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DSME Additionally Lands Order for 2 LNG Carriers
Additional Ship Orders
DSME Additionally Lands Order for 2 LNG Carriers
  • By Michael Herh
  • February 26, 2019, 10:21
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On Feb. 24 (local time), Chung Sung-rip (right), president of Daewoo Shipbuilding & Marine Engineering (DSME) poses for a photo shoot with John Angelicoussis, chairman of Angelicoussis Shipping Group after signing a contract to build an LNG carrier in Greece.
On Feb. 24 (local time), Chung Sung-rip (right), president of Daewoo Shipbuilding & Marine Engineering (DSME) poses for a photo shoot with John Angelicoussis, chairman of Angelicoussis Shipping Group after signing a contract to build an LNG carrier in Greece.

Daewoo Shipbuilding & Marine Engineering (DSME) is also landing orders for liquefied natural gas (LNG) carriers even amid news reports that Hyundai Heavy Industries is likely to take over DSME. This year, DSME has already received orders for nine vessels including three very large crude oil carriers (VLCCs) for a total of US$1.1 billion and have already reached 13 percent of its order target for 2019.

On February 25, DSME announced that it won an order for two liquefied natural gas (LNG) tankers for about US$380 million from Maran Gas Maritime, an affiliate of Angelicoussis Shipping Group and the largest shipping company of Greece. The LNG carrier ordered this time, will be built at Okpo Shipyard on Geoje Island and will be delivered to the shipowner by the end of 2021.

DSME has unrivaled records related to LNG carriers. In 2014, the shipbuilder won orders for a whopping 37 LNG carriers, a record that will remain hard to break in the future. It holds the largest numbers of orders, vessels delivered and order backlogs. With this contract included, the shipbuilder has recorded 176 contracts, 136 vessels delivered and 40 backlogs.

Since its first contract in 1994, Angelicoussis Shipping Group has been the most frequent buyer of ships from DSME as the Greek shipping company ordered the 104th vessel to DSME including this contract.

In the meantime, DSME landed orders for nine vessels for about US$1.1 billion this year. The nine vessels are six VLCCs and three LNG carriers, which accounted for 13% of DSME’s order goal of US$8.37 billion for 2019.