SKorea's Daewoo says it wins world's biggest shipbuilding order

South Korea's Daewoo Shipbuilding and Marine Engineering said it had won the world's largest-ever shipbuilding order from Maersk Line of Denmark.

By Agencies | Jul 04, 2008, 12.32 PM IST

SEOUL: South Korea's Daewoo Shipbuilding and Marine Engineering said Friday it had won the world's largest-ever shipbuilding order from Maersk Line of Denmark.

Daewoo has signed a contract to build 16 container vessels for Maersk, the world's biggest maritime transporter, for a record 2.44 trillion won (2.3 billion dollars), the Korean firm said in a statement.

All the ships will be delivered by June 29, 2012. "We won the world's largest-ever shipbuilding order at a time when global market conditions are not so favourable. This highlights our competitive edge over rivals," CEO Nam Sang-Tae told journalists.

With the latest deal, Daewoo has now won orders worth 9.83 billion dollars for 56 vessels so far this year.

Daewoo, the world's third largest shipyard following its compatriots Hyundai Heavy Industries and Samsung, plans to expand facilities and build a new "floating dock" to build giant container or crude oil carriers.
The Korea Shipbuilders Association says local companies won orders in the first four months of this year for a total of 6.8 million gross tonnes, accounting for almost 50 per cent of the world's orders.

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SKorea's Daewoo says it wins world's biggest shipbuilding order

South Korea's Daewoo Shipbuilding and Marine Engineering said it had won the world's largest-ever shipbuilding order from Maersk Line of Denmark.

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