South Korea’s DSME says wins orders for six LNG carriers

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it has received orders to build six liquefied natural gas (LNG) carriers worth about 1.49 trillion won ($1.26 billion).

DSME said it has received orders from two owners in North America.

It would build four 174,000-cbm LNG carriers for one owner and two for the other firm, the shipbuilder said.

All of the LNG carriers would feature MAN ME-GI propulsion, DSME said. ME-GI is short for M-type, electronically controlled, gas-injection propulsion.

The shipbuilder said it would deliver the LNG carriers by the second half of 2025, but it did not provide any additional information.

The yard has this year won about $10.44 billion in orders for 59 ships.

With these new orders, it has exceeded its yearly target of $7.7 billion by 136 percent. The yearly orders surpassed the $10-billion mark for the first time since 2014 when DSME won $14.9 billion in annual orders, it said.

The 2021 orders include 15 LNG carriers, 11 very large crude carriers, 9 LPG carriers, and 20 containerships.

Brokers recently reported that BW LNG has placed an order at DSME for two 174,000-cbm LNG carriers scheduled for delivery in 2025. This order also includes an option for two additional LNG carriers.

In addition, DSME has recently won an order from Maria Angelicoussis-led Maran Gas to build two 174,000-cbm LNG carriers, including two options.

Most Popular

Golar moving forward with new FLNG order

Floating LNG player Golar LNG is moving forward with its plans to order its fourth FLNG conversion. In order to secure "attractive" delivery, Golar plans to enter into slot reservations for long-lead equipment within the third quarter of this year.

Venture Global eyes FID on second CP2 phase in 2026

US LNG exporter Venture Global LNG expects to make a final investment decision on the second phase of its CP2 LNG project in Louisiana in 2026, according to CEO Mike Sabel.

Seatrium, Karpowership ink new FSRU conversion deal

Singapore’s Seatrium will convert more LNG carriers into floating storage and regasification units for Turkiye's Karpowership under a new letter of intent revealed on Thursday.

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.