Sungjin Geotec of South Korea penned an order for one offshore supply vessel, valued at around $20m, from Swire Pacific Offshore of Singapore, it announced on May 25. 
The newbuilding OSV will be delivered in 2013.
An official from Sungjin said, "With Daewoo's overseas network and information and Sungjin's technology, we were able to make a successful entrance into our new OSV market. We plan to reinforce cooperation with Daewoo, in order to expand offshore market."