DSME Clinches Order for Up to Four LNG Carriers

DSME Clinches Order for Up to Four LNG Carriers

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has received a contract to build two liquefied natural gas (LNG) carriers for an undisclosed Marshall Islands-based shipowner.

According to the company’s stock exchange filing, the order for the two 173,400 cbm LNG carriers is worth KRW 414.4 billion (USD 362.9 million).

Under the deal, signed in late February, the shipbuilder is scheduled to deliver the new vessels by the end of August, 2019.

DSME said that the deal includes options for two more LNG carriers, which, if exercised, would bring the value of the deal to KRW 830 billion.

In late February, John Fredriksen-controlled tanker owner and operator Frontline purchased two very large crude carrier (VLCC) resales from DSME.

The 300,000 dwt VLCCs, whcih were canceled in August last year, but are being built by DSME, were bought at a price of USD 77.5 million a piece.

The crude carriers are set to join their owner in September and October 2017.

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