DSME scores order for LNG carrier duo worth about $500 million

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it would build two liquefied natural gas (LNG) carriers under a new contract worth about $500 million.

DSME said on Friday it would construct the two LNG carriers for an unidentified owner in the Americas.

Moreover, the shipbuilder said the contract has a price tag of 710.3 billion won or about $500 million.

The price of $250 million per vessel is one of the highest-ever prices paid for a single LNG carrier with a capacity of 174,000 cbm or more.

Prices for LNG carrier newbuilds surged since last year from about $180-$185 million to about $240-$250 million this year.

DSME said it would deliver the two LNG vessels by December 2026.

One shipbuilding source told LNG Prime that the owner behind this order is US LNG exporter Venture Global LNG.

Earlier this year, Venture Global ordered three 200,000 cbm LNG carriers at DSME, the company’s first move into LNG shipping. These LNG carriers have each a price tag of about $235 million.

DSME did not reveal whether the two new LNG carriers have a capacity of 200,000 cbm.

Including this contract, DSME won orders worth about $9.9 billion. It previously already exceeded its target of $8.9 billion with the big part of LNG carrier orders tied to the massive QatarEnergy program.

The shipbuilder, which is being acquired by South Korea’s Hanwha Group, won orders for six LNG-powered containerships and 36 LNG tankers this year.

DSME recently also terminated a contract for two LNG carriers it won in July this year.

(Article updated to include additional information regarding the owner behind the order.)

Most Popular

Baker Hughes to buy Chart in $13.6 billion deal

US energy services firm Baker Hughes has entered into a definitive deal to buy compatriot LNG equipment maker Chart Industries. The transaction is worth $13.6 billion.

Venture Global takes FID on CP2 LNG

US LNG exporter Venture Global LNG has taken a final investment decision (FID) on the first phase of its CP2 LNG project in Louisiana. The company also closed the $15.1 billion project financing, claiming that it represents the largest standalone project financing ever, and the second-largest project financing after the combined financings of Venture Global’s Plaquemines LNG.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

More News Like This

Hanwha Ocean says recovery in LNG newbuild market led by US projects

South Korean shipbuilder Hanwha Ocean expects the recovery in the LNG newbuilding market to be led by US export projects and the phase-out of steam LNG carriers.

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Hanwha Ocean to buld Korean LNG-powered icebreaker

South Korean shipbuilder Hanwha Ocean has secured a contract to build one LNG dual-fuel research icebreaker.

Hanwha Ocean expects LNG newbuild market to recover in second half

South Korean shipbuilder Hanwha Ocean expects the LNG newbuilding market to recover in the second half of this year due to new US LNG export projects.