Samsung Heavy Ups 2017 Orderbook Aim

SHI South Korean shipbuilder Samsung Heavy Industries (SHI) has raised its orderbook goal for 2017 to USD 6 billion, from last years USD 5.3 billion target as the shipbuilding industry is expected to slightly improve during 2017, according to Yonhap News Agency. The announcement was made amid a protracted industry-wide slump and economic slowdown, as the company informed that this year would be a crucial point for its survival. According to SHIs president and CEO Park Dae-young, the shipbuilder had a project with a contract certain to be secured this year. Earlier in January, the shipbuilder received an order worth KRW 1.5 trillion (USD 1.27 billion) to construct a large offshore platform for a US operator, the first order among Korean shipyards in 2017. The semi-submersible production platform, which will be deployed in Gulf of Mexicos Mad Dog Field, weighs 58,000 tons and has a capacity of 110,000 barrels of oil and 25mcf of gas. World Maritime News Staff