US$470m orders for Daewoo

Daewoo Heavy Industries Co of South Korea says it has won orders from Luxembourg and Iran to build seven oil tankers at a total cost of US$470 million.

South Korea's second-largest shipbuilder said it would supply two 300,000-tonne tankers to Euronav Luxembourg for $85 million each and five 150,000-tonne tankers to an unnamed Iranian company for $60 million each.