SHI raises 2017 orderbook target to $6bn

South Korea’s Samsung Heavy Industries (SHI) has set itself a goal of achieving more than $6bn in orderbook in 2017, reports said.

News ID: 71598

Date: 16 January 2017 - 09:34

Park Dae-young, president and ceo of SHI, noted that 2017 will be a crucial period for the group at a time when local shipbuilders are struggling to cope with debts and a lack of work, MANA correspondent reported.

“We raised this year’s target for new orders, compared with $5.3bn set for last year,” Park told reporters. Park hinted that SHI has a project with a contract that the group will most likely win this year.

In early January, SHI landed a $1.27bn deal to build a floating production unit (FPU) for BP’s Mad Dog II project, making it the first significant deal for SHI.