Daewoo Shipbuilding & Marine Engineering of South Korea is expected to exceed its 2012 new order target of $11bn by 30%, thanks to thriving offshore plant market.
Analyst Park Min, Korea Investment & Securities said on March 15, "Daewoo is waiting for sole-source contract for Israel's Tamar FLNG, totalling about $4bn at maximum, which is to be finalized in the end of this year."
According to Park, Daewoo is also bidding solely for Petronas FLNG of Malaysia, Mafumeria Sul central processing facility of Angola, Block B gas platform of Vietnam and Shtokman FPU of Russia, etc.
He said, "It is forecast that Daewoo would ink about overall seven offshore drilling facilities this year, including four semi-submersible rigs to be contracted soon."
He also forecast, "About a total of 1m-1.1m teu containership orders would be placed in 2012, down from around 2m teu last year, and recently to increase freight rate would likely to lead into newbuilding ordering eventually."
He said, "Daewoo fixed new order target for this year as $11bn, however, it would pass the target by 30% with thriving offshore plant business. Also, order for drillship and LNG carrier prospected in H2 is coming earlier than expected."
Pointed out, "Boom in offshore plant market is not temporary, but to last until next year or longer."
Meanwhile, the Geoje-based yard has booked orders for two offshore platform (one offshore-platform topside and one FPSO), four aircraft-carrier auxiliary ships, four VLCCs, one PC, etc., valued at $3.5bn in total, among which offshore plant made up about $2.2bn.
Published : March 16, 2012