Seoul: Korea's SPP Group merged its shipbuilding subsidiaries into SPP Shipbuilding as of 1 January 2011. ??SPP Shipbuilding absorbed SPP Plant & Shipbuilding and the name of the integrated company is to be still SPP Shipbuilding with its headquarters moving to the city of Sacheon, South Gyeongsang Province, Korea, where its Sacheon shipyard is based. ??SPP won new orders, in total, for 40 ships including optional ships worth $1.6bn in 2010, exceeding its initial annual target. ??It held 139 ships worth around $6bn totaling 2.5m cgt on its orderbook as of December 2010. [05/01/11]
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