Samsung ups target

Samsung Heavy Industries has received a 633.4 billion won ($567.8 million) order from Europe and said it would raise its order target for 2008 by more than 30%. The South Korean shipbuilder said in a statement that Britain’s Flex LNG had ordered an LNG FPSO facility, which is scheduled for delivery by September 2011.

Samsung added that it had raised its order target for this year to over $20 billion from the previous $15 billion as it had already won a combined $13.5 billion in orders so far this year. “We are in the final stages for new contracts worth billions of dollars now, so we will easily secure orders for more than $20 billion this year,” a company official said.