Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

DSME raises sales target 45%

DSME raises sales target 45%

Seoul: The ship sales departments at Korean yards will have no time to relax despite their dramatic start to the year. Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder, said Sunday that it has raised its yearly sales target to US$16 billion this year from the previous $11 billion on increased orders for container ships.

This year, the shipbuilder has already won orders valued at $11 billion to build 84 ships and other offshore equipment.

"Demand for container vessels is increasing sharply. About 55 percent of new orders received this year, or $6 billion, is about container vessels," the company said in a statement.

The shipbuilder's order backlog reached $30.2 billion at the end of June this year, with production of those orders expected to take more than three years.  [09/07/07]