DSME reveals orders for six LNG carriers

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it would build in total six new liquefied natural gas (LNG) carriers under two contracts it revealed on Tuesday.

Under the first contract, DSME will build two 174,000-cbm LNG carriers for an unidentified owner in Asia and deliver them by May 2026.

Moreover, the contract’s value reaches about 616.7 billion won ($430 million) or some $215 million per vessel, according to the shipbuilder.

As per the second contract, DSME will construct four LNG carriers for an owner based in Europe and deliver the ships by October 2026.

Also, the shipbuilder said that this contract has a price tag of 1.23 trillion won ($860 million) or about $215 per vessel.

Shipbuilding sources said these deals are tied to the giant shipbuilding program by QatarEnergy.

Prior to this contract, Greece-based TMS Cardiff Gas ordered two 174,000-cbm LNG carriers at DSME under the program.

Sources said at the time that Japan’s Meiji Shipping and Malaysia’s MISC were expected to sign contracts for LNG carriers as well.

It appears that Meiji ordered these four LNG carriers and MISC two.

With these new orders, DSME exceeded its annual order target of $8.9 billion.

The shipbuilder, which is being acquired by South Korea’s Hanwha Group, won orders for 44 ships this year, including six LNG-powered containerships and 36 LNG tankers.

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

Most Popular

Venture Global’s Plaquemines LNG seals new gas supply deal

Venture Global LNG’s Plaquemines LNG has signed a new natural gas sale and purchase deal with gas marketer Tenaska Marketing Ventures, according to a DOE filing.

TotalEnergies working on Mozambique LNG restart, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are still working with the Mozambique government on restarting construction on the 12.8 mtpa project, according to Patrick Pouyanne, CEO of TotalEnergies.

Shell takes FID on Egypt gas project

A unit of UK-based LNG giant Shell has taken the final investment decision for the development of the Mina West gas discovery in Egypt’s Mediterranean Sea.

More News Like This

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.

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.