DSME says Shell-chartered LNG VLCCs worth about $971 million

South Korea’s Daewoo Shipbuilding & Marine Engineering says the ten LNG-powered VLCCs Shell chartered from three owners have a price tag of 1.1 trillion won ($971 million).

DSME said in a statement on Friday the signing of contracts with Advantage Tankers, AET, and International Seaways followed the letter of intent the owners signed with the yard in December last year.

The Korean yard will build the 300,000-ton vessels running on both LNG and oil at its Okpo shipyard and deliver them by the second half of 2023.

In addition, all of the vessels will feature MAN ME-GI engines and LNG tanks made of manganese steel, the yard said. They will also have DSME’s smart ship solution DS4.

The dual-fuel vessels will meet the Energy Efficiency Design Index (EEDI) phase 3 requirements of the International Maritime Organization, it said.

The shipbuilder said it has secured orders worth a total of $1.56 billion so far this year, achieving about 20 percent of its goal.

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