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As one of South Korea’s three major shipbuilders, Daewoo Shipbuilding & Marine Engineering (DSME) recently is spurring its efforts to enhance the offshore plant business.
Such move comes as the offshore plant business is suddenly rising as a profitable business in relation to resource development, which is more promising than the general shipbuilding business that is centered on container ships. As major oil developers rush to place orders for offshore plants, the Korean flagship shipbuilder has strengthened conditions for its offshore plant business.
DSME has a strategy to foster the offshore business by acquiring Daekyung Machinery & Engineering. Daekyung is a boiler maker for plants which posted 20.5 billion won in sales last year. If DSME successfully takes over the boiler maker, great synergy will be created in DSME’s offshore plant business.
And also, the company has recently won the project of building a $550 million (640 billion won) drillship from an offshore drilling company in the Americas.
With the independently developed turn-key system, which is projected to be effectively applied in carrying out the entire process of engineering, purchasing, construction, and installation, the company plans to professionally engage in its contracted project of constructing an offshore natural gas platform, etc.
DSME achieved a total of $12 billion contracts by building a total of 44 offshore platforms and drillships this year.
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