Daewoo Shipbuilding Targets 18% Jump in Offshore Orders on Oil-Price Rise

Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipyard, expects orders for drilling vessels and offshore platforms to increase 18 percent this year, helped by higher fuel prices.
Contracts for drill ships, semi-submersibles and offshore platforms may rise to $6 billion this year from $5.1 billion in 2010, Nam Sang Tae, Daewoo Shipbuilding’s chief executive officer, said today.
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Source: Bloomberg