Samsung Targets Seven-Fold Jump in Offshore Orders

Samsung expects offshore-equipment orders to jump almost seven-fold this year as a global economic recovery offsets concerns of project delays in the Gulf of Mexico following an oil spill. The world’s largest maker of drill ships may exceed its $4 billion order target for offshore platforms and production structures this year, having already reached more than half that tally, said Harris Lee, its vice president of marketing. Last year, the Seoul-based company won $600 million of orders.