Daewoo Shipbuilding & Marine Engineering Sets 6.98 Billion USD Order Target for This Year, Down 22% from Last Year

[Image source=Yonhap News]

[Asia Economy Reporter Seongpil Cho] Daewoo Shipbuilding & Marine Engineering, confirmed to be acquired by Hanwha, announced on the 27th that it has set its order target for this year at $6.98 billion (8.6 trillion KRW). This is about a 22% downward adjustment compared to last year's order target of $8.9 billion. Daewoo Shipbuilding & Marine Engineering explained the reason for lowering the order target, stating, "Liquefied Natural Gas (LNG) carriers are fully booked up to delivery slots (construction spaces) at the end of 2026," and added, "Since the order backlog is sufficient, we judged that there is no need to forcefully fill slots with distant delivery dates."

The sales target for this year has been set at 9.4217 trillion KRW. Daewoo Shipbuilding & Marine Engineering stated, "We have exceeded the order targets for the past two years and secured 3 years and 6 months worth of volume," and added, "With minimal production gaps, an increase in sales is expected."

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