June 16, 2008
Daewoo wins $669.3 million drillship contract
Daewoo Shipbuilding and Marine Engineering Co. said in a Korea Stock Exchange announcement today that it had won a 697.3 billion won ($669.3 million) order to build a drillship for an unidentified company in the Oceania region.
According to the filing, Daewoo is scheduled to deliver the ship by Dec. 15, 2011
The customer is widely believed to TMT of Taiwan, the company controlled by Nobu Su, well-known for his activities in the freight futures market and, until January this year co-Chairman of Star Bulk Carriers (NASDAQ:SBLK). Incidentally, though TMT is widely referred to as Taiwan Maritime Transport, the privately held company is in fact now called Today Meets Tomorrow.
Earlier this month RDS, the drilling rig design and engineering unit of the KCA DEUTAG Group, reported that Daewoo had awarded it a contract for the conceptual engineering of the drilling mud and bulk systems of a drillship for TMT of Taiwan, with the capability to drill to 12,000 m in water depths down to 3,600m.