Daewoo Wins $504m Contract to Build Drill Ship

According to the Asia Pulse, the Daewoo Shipbuilding Marine & Engineering Co., said it had won a 504m order to build an offshore drill ship. The deal, from a U.S. company, calls for Daewoo Shipbuilding to deliver the semi-submersible ship by February 2010. The South Korean company won a total of $4.3b worth of orders in 2006 to build offshore facilities such as platforms and rigs. For 2007, Daewoo Shipbuilding expects more than $3b in orders to build such facilities. Source: Business in Asia