Daewoo Shipbuilding wins order to build nine container ships

Seoul (ANTARA News/Asia Pulse) - The Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder, said Monday that it had won a deal valued at 1.37 trillion won (US$1.49 billion) to build nine container vessels.

The deal from an European shipping company calls on Daewoo Shipbuilding to deliver the ships by March, 2011, it said in a regulatory filing. On Sunday, the shipbuilder 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.

Source: Business in Asia Today