South Korea: DSME Forecasts USD 11 Billion in New Orders for 2012

The world’s second largest shipbuilder Daewoo Shipbuilding & Marine Engineering is planning to reach USD 11 billion mark in new orders for 2012. Similar forecasts were made for 2011 despite a bad credit situation resulting in a number of cancelled orders.

Nam Sang, Chief Executive Officer at DSME, said that the shipbuilder plans to invest USD 434.71 million in facilities and new hires in 2012. “The commercial ship business will be better from 2013,” Nam said.

He believes that 70 – 80 % of new orders in 2012 would be for offshore vessels such as drillships.

DSME, established in 1973 and restructured as an independent company in October 2000 at Okpo Bay, Geoje Island, on the southeastern tip of the Korean Peninsula, has developed into the world’s premium specialized shipbuilding and offshore contractor that builds various vessels, offshore platforms, drilling rigs , floating oil production units, submarines, and destroyers. The company employs approximately 1,500 design and R&D personnel with prolific experience, and more than 15,000 skilled workers.

Production capacity

Commercial Vessels – 70 vessels / year

Specialty Vessels – 10 vessels / year

Offshore & onshore plants – 30~40 units

Major products

Commercial Vessels – Tankers, LNG & LPG carriers, container ships, roll roll-on roll-off carriers, chemical carriers, product tankers, passenger ferries, and more

Offshore plants – Fixed platforms, rigs, FPSO/FPU/FSOs for offshore oil and gas exploration & production

Specialty vessels – Submarines, destroyers, battle ships, submarine rescue vessels, AUV, and other specialty vessels

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Shipbuilding Tribune Staff, December 27, 2011;