Daewoo Shipbuilding targets US$10 bln order this year

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SEOUL, Jan. 5 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co., the
world's third-largest shipbuilder, said Monday that it aims to win orders valued
at US$10 billion this year, lower than last year's estimated $11.8 billion, as a
global economic slump reduces shipbuilding orders.

In a regulatory filing, the shipyard also said it expects this year's sales to
reach more than 13 trillion won ($9.8 billion). The company is expected to post
9.9 trillion in sales last year.
Daewoo Shipbuilding expects demand for offshore units, including drill ships and
floating production and storage vessels, to increase this year.
State-run Korea Development Bank and a state asset manager are seeking to wrap up
the sale of a 50.4-percent stake in the shipyard to Hanwha Group, but a dispute
over prices has hampered the deal.
The group has reportedly offered more than 6 trillion won, but asked to pay for
the stake in installments amid concerns it may face difficulty in raising funds.
sam@yna.co.kr
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