Daewoo Wins $800 Mil. Orders to Build Ships

Daewoo Shipbuilding & Marine Engineering Co.(DSME), the world's third-largest shipbuilder, has recently won $800 million in orders from European companies to build three bulk carriers and one offshore drilling rig, the company said Thursday.

The deals require DSME to deliver the vessels by June 2010, the company said. It did not identify the companies that made the orders.

DSME has received shipbuilding orders valued at $8.36 billion so far this year, achieving more than 80 percent of this year's target of $11 billion.

In May, its profit more than doubled from a year earlier as the company built more vessels at higher prices.