October 18, 2004

$1.2 billion in orders for Daewoo

South Korea's Daewoo Shipbuilding & Marine Engineering Co. today announced export orders worth US$1.2 billion for 10 ships.

They includes three 8,000-vehicle capacity car carriers for Wallenius, four 8,000 TEU containerships for A.P. Moller and three 145,000 cu.m LNG carriers--one for Bergesen, one for Sovcomflot and one for Golar LNG.

All orders are scheduled for delivery by August 2008.

Thus far this year, Daewoo has won orders for 59 ships worth $5.6 billion, exceeding its original sales target of $4.38 billion by 27 percent. Daewoo has now raised its target for the year to $7 billion.

The Daewoo orderbook now includes 27 LNG carriers, worth $1.6 billion.

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