Daewoo Shipbuilding Marine & Engineering Co., the world's second-largest shipbuilder, said Sunday that it has raised its yearly sales target to US$16 billion this year from the previous $11 billion on increased orders for container ships.
This year, the shipbuilder has already won orders valued at $11 billion to build 84 ships and other offshore equipment.
"Demand for container vessels is increasing sharply. About 55 percent of new orders received this year, or $6 billion, is about container vessels," the company said in a statement.
Daewoo Shipbuilding expects orders for high-priced ships and container vessels to continue to increase in the future.
The shipbuilder's order backlog reached $30.2 billion at the end of June this year, with production of those orders expected to take more than three years.
South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices.
South Korean shipbuilders such as Hyundai Heavy Industries Co., the world's biggest, are expected to see their exports rise 22 percent to $27 billion this year on the back of continuous demand for high-end ships and other products.
This year, the shipbuilder has already won orders valued at $11 billion to build 84 ships and other offshore equipment.
"Demand for container vessels is increasing sharply. About 55 percent of new orders received this year, or $6 billion, is about container vessels," the company said in a statement.
Daewoo Shipbuilding expects orders for high-priced ships and container vessels to continue to increase in the future.
The shipbuilder's order backlog reached $30.2 billion at the end of June this year, with production of those orders expected to take more than three years.
South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices.
South Korean shipbuilders such as Hyundai Heavy Industries Co., the world's biggest, are expected to see their exports rise 22 percent to $27 billion this year on the back of continuous demand for high-end ships and other products.