DSME clinches order for two LNG carriers

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

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

According to the shipbuilder, the contract is worth 649.5 billion won ($495 million) or some $247.5 million per vessel, which is a very high price.

The LNG carriers would feature MAN’s ME-GA dual-fuel engine and a reliquefaction system.

Brokers reported that this order could be related to ADS Maritime.

This order comes after a strike by subcontractors ended at DSME on Friday, according to local media reports. The strike started on June 2.

With this order, DSME secured contracts worth about $6.43 billion for 28 ships this year, including six LNG-powered containerships and 20 LNG tankers.

The LNG carrier orders this year include six vessels for Greece’s Maran Gas, two for BW LNG, three for MOL, three vessels linked to Venture Global LNG, and four LNG carriers from a Korean consortium and related to the massive shipbuilding program by state-run QatarEnergy.

DSME has now achieved more than 70 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.

- Advertisements -

Most Popular

Hyundai Samho to build LNG carrier quartet for $1.08 billion

South Korea's Hyundai Samho has secured an order to build four liquefied natural gas (LNG) carriers for about $1.08...

QatarEnergy to further boost LNG output

State-owned LNG giant QatarEnergy said on Sunday it will further boost its liquefied natural gas production from the North...

Tellurian reports $166.2 million net loss in 2023

US LNG firm Tellurian reported a net loss of $166.2 million in 2023, as it continues to work on...

More News Like This

GasLog’s LNG carriers launched in South Korea

South Korea’s Hanwha Ocean, previously known as DSME, has launched two liquefied natural gas (LNG) carriers it is building...

GTT secures new LNG tank gigs

French LNG containment giant GTT has secured new orders from two South Korean shipyards. GTT said in a statement the...

MOL, GAIL name new LNG carrier in South Korea

South Korea's Hanwha Ocean, previously known as DSME, hosted a naming ceremony for a new LNG carrier it built...

South Korea’s Hanwha Ocean speeds up construction of LNG carriers

South Korean shipbuilder Hanwha Ocean, previously known as DSME, is currently building simultaneously four large liquefied natural gas carriers...