Monday, November 5, 2012

[Ship Building] Daewoo Surpass Target

Daewoo Surpass Target

Daewoo Shipbuilding & Marine Engineering, as a matter of fact, has already exceeded new order target in 2012.

Analyst Kim Hong-Gyun of Dongbu Securities said on November 1, "Daewoo has contracted overall $10.53bn of orders year-to-date, reaching 95.7% of target, $11bn."

Added, "As additional orders for a pair of submarines highly likely to be signed by the end of this year, it would be fair to see Daewoo has already exceeded the target."

Also, he said that Daewoo is possibly to be awarded orders for more than two drillships.

Moreover, the Korean shipyard is now under newbuilding discussions for five to six projects in LNG carrier segment (25 vessels in total) and four to five projects in containership, saying "Daewoo will be able to contract a total of $13bn~14bn of new orders in 2012."

He said "With offshore facilities account for 83% of total new order and high-end vessels, such as LNG carrier, etc., take most of the remaining orders, the shipbuilder is prospected to improve earnings in the near future."

And "Orderbook, in terms of revenue, stands at 2.4 years."

Published : November 2, 2012

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