Daewoo Shipbuilding & Marine Engineering Co., South Korea's second-largest shipbuilder, said Wednesday that it has won a $300 million deal to build a pipelay vessel for a Dutch company.
Under the deal with Heerema Offshore Services B.V. of the Netherlands, Daewoo Shipbuilding will deliver the vessel by 2012, the company said in a statement.
The vessel, 215 meters long and 46 meters wide, is capable of laying subsea pipelines in water depths of up to 3,000 meters, Daewoo Shipbuilding said. The vessel also has a lifting capacity of 4,000 tons, the shipbuilder said.
Daewoo Shipbuilding has won orders valued at over $6 billion so far this year. The shipbuilder aims to reach $10 billion for the year.