Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipyard, expects orders for drilling vessels and offshore platforms to increase 18 percent this year, helped by higher fuel prices.
Contracts for drill ships, semi-submersibles and offshore platforms may rise to $6 billion this year from $5.1 billion in 2010, Nam Sang Tae, Daewoo Shipbuilding’s chief executive officer, said today.
The Seoul-based company expects to win more work in Brazil and Southeast Asia as oil producers including Total SA and Petroleo Brasileiro SA boost spending on rigs and offshore structures to meet demand for the fuel. Crude prices have risen 13 percent in the past year, and global demand may reach 88.02 million barrels a day this year and 89.65 million in 2012, according to the U.S. Energy Department.
Source & full story at:Â Bloomberg
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