Thursday, June 16, 2011

Daewoo tipped to ink $14bn

Daewoo Shipbuilding & Marine Engineering is being forecast to win $14bn orders this year as new orders speed up in the latter part of the year.

Daiwa Securities expects a strong order momentum for Daewoo in the third quarter.

The South Korean shipbuilder has won new orders for 16 ships and offshore plants worth $4.35bn so far this year.

It is also set to win two 9,200TEU containership orders from Singapore's NOL.

NOL's existing order (penned last year) at Daewoo for ten 8,400-teu boxships will now become ten 9,200-teu ships with a more advanced design and technology, NOL revealed yesterday.

Daewoo is aiming to win $11bn orders in 2011 but Daiwa hiked Daewoo's order intake forecast from $12bn to $14bn.

The securities firm said Daewoo is soon to win additional ten, 18,000TEU newbuildings from Denmark's AP Moller-Maersk.

It tips South Korean shipbuilders, including Daewoo, would receive more new orders in the fourth quarter.

Published : June 16, 2011

Source: Asiasis

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