DSME boosting production

Daewoo Shipbuilding & Marine Engineering (DSME) plans to spend 163.2bn won ($164m) to expand its facility for the production of vessel parts. The investment will be made by March 2010 at its shipyard in Okpo, South Korea.

The shipbuilder also plans to spend 44.5bn won to buy a 50 percent stake in DK Maritime SA, a shipping company to be set up in Panama along with Korea Line Corp, a South Korean shipping company.