July 9, 2007
Daewoo books $1.49 billion box ship order
Korea's Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder, said in a regulatory filing today that it has won a contract valued at 1.37 trillion won ($1.49 billion) to build nine container vessels.
Yonhap News Agency says the deal from "a European shipping company" calls on Daewoo to deliver the ships by March, 2011.
The news follows an announcement by Daewoo Shipbuilding on Sunday that it had raised its yearly sales target to $16 billion this year from the previous $11 billion, based on increased orders for containerships.
Even before today's announcement, Daewoo had reached the $11 billion target with orders for to build 84 ships and offshore units.