Daewoo Shipbuilding & Marine Engineering (DSME) said on Dec. 7 that it has signed a letter of intent to build 10 LNG-powered very large crude carriers (VLCCs) with a European client.DSME announced on Dec. 7 that it has signed a letter of intent (LOI) on building 10 VLCCs powered by two types of fuel
Daewoo Shipbuilding & Marine Engineering (DSME) said on Dec. 3 that it has won a 282 billion won order for three super-large crude carriers from ADNOC, a state-run oil company in Abu Dhabi, the United Arab Emirates (UAE).The crude carriers satisfy the second phase of the Energy Efficiency Design Ind
Germany's Hapag-Lloyd, the world's fifth-largest shipping company, will soon award an order of up to 12 23,000-TEU container ships (including six optional ones) worth US$2 billion to Daewoo Shipbuilding & Marine Engineering (DSME), foreign media outlets reported on Dec. 1, adding that the co
Daewoo Shipbuilding & Marine Engineering recently signed a letter of intent with ADNOC L&S regarding three very large crude carriers. The US$250 million final contract is expected to be concluded next month and the figure is expected to double when three optional vessels are included.“The price of t
Daewoo Shipbuilding & Marine Engineering (DSME) announced on Nov. 24 that it has succeeded in an in-house development of the industry's first radiographic testing robot that combines digital technology.The technology inspects the internal structure of welds with 3D modeling and collects informat
Samsung Heavy Industries has signed a US$2.5 billion contract with a European client to supply ship blocks and equipment, industry sources said on Nov. 23. The contract will run until December 2025. The deal is the largest ever single ship contract signed by Samsung Heavy Industries since its founda
Korea Shipbuilding & Offshore Engineering (KSOE) and Samsung Heavy Industries have won orders for a total of 13 crude carriers. The combined value of the ships exceeds 1 trillion won.KSOE, a shipbuilding arm of Hyundai Heavy Industries Group, announced on Nov. 17 that it has clinched an order for 10
Daewoo Shipbuilding & Marine Engineering (DSME) announced on Nov. 13 that it has recently signed a contract with a European shipping company to build six container ships for 722.6 billion won.The ships will be delivered to the shipping company by January 2023. This marked the company’s first order f
Daewoo Shipbuilding & Marine Engineering (DSME) has recently won a two-trillion-won order for six LNG carriers.The latest order, which is valued at 2.03 trillion won, was placed by a European client. It is the largest single order for the Korean shipbuilding industry in 2020.The order elevated DSME&
As demand for clean energy is expected to soar in the post-COVID-19 era, Korean business groups are investing massively in hydrogen-related businesses.Hyundai Motor, Hanwha, GS, Doosan and Hyosung Groups are leading corporate investment in hydrogen. The Korean government also plans to foster 500 spe
Daewoo Shipbuilding & Marine Engineering (DSME) has been awarded an order to build six liquefied natural gas (LNG) carriers valued at US$1.8 billion.DSME announced on Oct. 12 that it has received the order from a European shipping company, without disclosing its name. Industry insiders say that the
Korean shipbuilders are stepping up their efforts to develop zero-carbon ammonia-powered vessels to prepare for the post-LNG era.Samsung Heavy Industries (SHI) announced on Sept. 24 that it has obtained Approval in Principle (AiP) from Lloyd's Register (LR) of the United Kingdom for its ammonia-
The planned merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) within 2020 has become uncertain due to delayed reviews at home and abroad due to the COVID-19 pandemic.The European Commission has suspended its review of the business combination between Hyundai
Korean shipbuilders are suffering a severe order drought. Even orders for very large crude carriers (VLCCs), which are a major cash cow for them, have dropped sharply. This is the opposite of a forecast made at the beginning of 2020 that orders will increase due to low oil prices and replacement dem
Shipbuilders in Korea, China, and Japan are having fierce competition in order to take a bigger share of the global LNG-powered vessel market. As the global energy demand is shifting to eco-friendly sources, the shipbuilding market is shifting its focus to LNG-powered ships from those powered by coa
Recently, competition is heating up among domestic shipbuilders to develop eco-friendly and fuel-saving smart vessels.The market for autonomous ships and related equipment and materials is expected to grow 12.8 percent annually to reach US$155 billion in 2025, said Acute Market Sports, a shipbuildin
Daewoo Shipbuilding and Marine Engineering (DSME) is expected to win an order for wind turbine installation vessels (WTIVs), a high value-added vessel worth 340 billion won per unit, around the end of 2020.DSME recently signed a letter of intent (LOI) with Monaco-based shipping firm Scorpio Bulkers
Daewoo Shipbuilding and Marine Engineering Co. (DSME) and Samsung Heavy Industries Co. (SHIC) are full of hope for winning icebreaking LNG carrier orders from Russia. Korean shipbuilders are likely to sweep up orders for icebreaking LNG carriers that will be used for the Second Yamal Project, a Russ
Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 8 that it has won an order for two 360,000-square-meter LNG-barges from a Russian client for about 901.3 billion won.An LNG-barge is a floating LNG terminal in the sea. It is a facility that receives and stores LNG from icebreaking LN
The big three Korean shipbuilding companies — Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries — have signed an LNG carrier construction deal worth 23.6 trillion won with Qatar Petroleum (QP), a state-run oil company of Qatar, Reuters reported on