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DSME's niche marketing pays off with $300m Italian order

Seoul: Daewoo Shipbuilding & Marine Engineering (DSME) has secured a $300 million shipbuilding order from Italy. Under the deal, the company will build four roro container ships for Ignazio Messina scheduled for delivery in the first quarter of 2013, DSME said Thursday. ?''Our corporate focus on special purpose vessels has paid off. We expect the global shipbuilding market to further improve in 2010 considering the steadily rising demand for ships,'' Hwang Tae-jin, a senior executive, said.?''The Italian company is in the process of swapping out older vessels for new ones, which is good news for us to try and strike fresh deals,'' according to the executive.?Thanks to the contract, Daewoo has increased its orders for special purpose vessels to $750 million this month alone, a company spokesman said.?Earlier, it won an estimated $450 million ship order from German utility firm RWE for two vessels designed to set up offshore wind power facilities.?According to Daewoo officials, the company is also engaged in final negotiations for a $2.5 billion order by the end of this year. [18/12/09]?

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