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Marine Log

November 1, 2007

LNG orders take DSME past 2007 target

Daewoo Shipbuilding & Marine Engineering, the world's third-largest shipbuilder, said today that it has recently secured orders valued at $900 million to build four liquefied natural gas carriers.

With the latest contracts, the shipbuilder has won $17.1 billion worth of orders this year to build 122 vessels, exceeding its 2007 target of $17 billion. The vessels include 80 containerships.

In the first six months of the year, Korean shipbuilders secured a record $33.2 billion worth of orders, up 51.3 percent from a year earlier, buoyed by a surge in global demand for new vessels.

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