DSME clinches order for seven LNG carriers

South Korea’s shipbuilder Daewoo Shipbuilding and Marine Engineering has received an order for seven new liquefied natural gas (LNG) carriers.

DSME will build the 174,000-cbm LNG carriers for an unidentified owner in Africa and deliver them by February 2026.

According to the shipbuilder, the contract is worth about 2.03 trillion won ($1.5 billion) or some $214.2 million per vessel.

This deal is most likely related to the massive shipbuilding program by state-run QatarEnergy.

The price of about $214 million per vessel is almost identical to the four 174,000-cbm LNG carriers DSME won in June and which are part of the QatarEnergy program, as well as other orders at SHI and KSOE.

Shipbuilding sources said that a Korean consortium consisting of H-Line Shipping, Pan Ocean, and SK Shipping ordered these vessels under QatarEnergy’s program.

This consortium, or K3, also ordered the four LNG carriers at DSME in June.

DSME is expected to reveal another deal related to the QatarEnergy program soon, the sources said.

With this new order, DSME secured contracts worth about $8.17 billion for 36 ships this year, including six LNG-powered containerships and 28 LNG tankers.

DSME has now achieved more than 92 percent of its annual target of $8.9 billion.

Last year, the yard won about $10.8 billion in orders, exceeding its target of $7.7 billion.

(Article updated to add more information regarding the owners behind the order.)

Most Popular

Mercuria inks long-term LNG supply deal with China’s Guangzhou Gas

Switzerland-based energy trader Mercuria has signed a long-term LNG sales and purchase agreement with China's Guangzhou Gas, a unit of Guangzhou Development Group.

ConocoPhillips seals Chinese LNG supply deal

US energy giant ConocoPhillips has signed a long-term LNG supply deal with China's Guangdong Pearl River Investment Management Group.

QatarEnergy eyes major LNG trading expansion

State-owned LNG giant QatarEnergy aims to increase trading of non-Qatari physical LNG volumes to 30 to 40 million tons by 2030, according to Qatar’s energy minister and chief executive of QatarEneergy, Saad Sherida Al-Kaabi.

More News Like This

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.

Hanwha Ocean starts work on Nakilat’s LNG carrier

South Korean shipbuilder Hanwha Ocean has officially started building Nakilat's first of eight LNG carriers under the massive QatarEnergy shipbuilding program.

Hanwha Ocean delivers 200th LNG carrier

South Korea's Hanwha Ocean has delivered its 200th liquefied natural gas (LNG) carrier.

Evergreen orders LNG-powered vessels in South Korea and China

Taiwan's shipping firm Evergreen Marine has ordered ultra-large LNG-powered containerships at two yards in South Korea and China.