Daewoo Shipbuilding & Marine Engineering Wins Order for Two LNG Carriers

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Monday, March 6th, 2017
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South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has clinched a 414 billion won ($363 million) deal to build two 173,400-cubic-meter liquefied natural gas (LNG) carriers.

The deal includes an option to build two more LNG carriers. If the unidentified customer chooses to have two additional vessels built under the deal, the value of the deal will double to 830 billion won.

DSME will construct two MEGI-powered LNG vessels, 295 meters long and 46 meters wide, at its Okpo Shipyard on Geoje Island off the southern coast. And DSME will deliver the vessels by the second half of 2019 to the unidentified customer. The two LNG vessels will also feature DSME's patented partial re-liquefaction system (PRS).

DSME is breathing another sigh of relief. The S. Korean shipbuilder said that Frontline Ltd. of Norway agreed to buy two very large crude carriers (VLCCs) for 180 billion won. DSME has been constructing the two VLCCs for an Oceanian shipper but the contract was unfortunately canceled in August last year.

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