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Daewoo Shipbuilding sets 2018 sales target at KRW 9.8 trillion

Logistic News - Published on Wed, 13 Jun 2018

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Yonhap cited Daewoo Shipbuilding Marine & Engineering Co., the world’s second-largest shipbuilder by orders, could achieve KRW 9.8 trillion in sales this year, the company’s CEO said. Jung Sung-leep also said he expects Daewoo Shipbuilding to receive USD 7 billion worth of orders by the end of this year, which is close to the initial order target of USD 7.3 billion.

Mr Jung said during a news conference at the company’s headquarters in central Seoul “We are making efforts to secure orders for offshore facilities for the rest of the year, which if realized, could help us surpass the order target.”

As of the end of May, the shipbuilder had $22.4 billion worth of orders, or 96 ships, in its order backlog, which would keep its shipyards busy until the third quarter of 2020.

Still, he identified rising shipbuilding plate prices and the won’s strength against the dollar, which affects the vessels’ export prices, as major challenges ahead for the company’s bottom line.

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Posted By : Amom Remju on Wed, 13 Jun 2018
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