Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipbuilder, received an order to build four crude tankers at an industry record price from Vela International Marine Ltd of Saudi Arabia.
The 317,000-deadweight-tonne tankers were priced at about US$151 million each, Seoul-based Daewoo said in an e-mail statement yesterday.
A 300,000-tonne vessel cost US$142 million at the end of September, according to Clarkson plc, the world's biggest shipbroker. The order was announced on Tuesday.
Shipyards in South Korea, the world's biggest shipbuilding nation, have received record orders this year as global demand for iron ore, fuel, toys and computers increase the need vessels.
Ship prices have more than doubled to a record since 2003, when they came off from a 10-year low.
'The order will help further improve Daewoo Shipbuilding's profitability,' the shipbuilder said in the statement.
Including the latest order, Daewoo Shipbuilding now has a total of US$18 billion in new contracts this year, surpassing its target of US$17 billion.
The company's backlog rose to about US$39 billion, representing more than three years of work.
Daewoo Shipbuilding added 2.6 per cent to 50,800 won as of 9.48am in Seoul, compared with a 2.4 per cent advance in the benchmark Kospi index.
The stock has climbed 74 per cent this year, about double the Kospi's gain.
The 317,000-deadweight-tonne tankers were priced at about US$151 million each, Seoul-based Daewoo said in an e-mail statement yesterday.
A 300,000-tonne vessel cost US$142 million at the end of September, according to Clarkson plc, the world's biggest shipbroker. The order was announced on Tuesday.
Shipyards in South Korea, the world's biggest shipbuilding nation, have received record orders this year as global demand for iron ore, fuel, toys and computers increase the need vessels.
Ship prices have more than doubled to a record since 2003, when they came off from a 10-year low.
'The order will help further improve Daewoo Shipbuilding's profitability,' the shipbuilder said in the statement.
Including the latest order, Daewoo Shipbuilding now has a total of US$18 billion in new contracts this year, surpassing its target of US$17 billion.
The company's backlog rose to about US$39 billion, representing more than three years of work.
Daewoo Shipbuilding added 2.6 per cent to 50,800 won as of 9.48am in Seoul, compared with a 2.4 per cent advance in the benchmark Kospi index.
The stock has climbed 74 per cent this year, about double the Kospi's gain.