DSME cancels order for two LNG carriers

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it had terminated an order for two LNG carriers with a European shipowner.

DSME said in a stock exchange filling this order is related to a contract it had won on July 23.

According to the shipbuilder, the contract was worth 649.5 billion won ($495 million), or some $247.5 million per vessel, with delivery of the vessels scheduled by November 2026.

DSME claims that the shipowner based in Europe had failed to fulfill the terms of the contract.

The shipbuilder, which is being acquired by South Korea’s Hanwha Group, did not provide any additional information.

LNG Prime reported on this order for two 174,000-cbm LNG carriers on July 25. Brokers said at the time that this order was linked to ADS Maritime.

This is not the first order DSME terminated this year as the yard already cancelled two LNG carriers linked to Russia’s Sovcomflot.

DSME secured contracts worth about $8.6 billion for 38 ships this year, including these two cancelled tankers.

These orders include six LNG-powered containerships and 30 LNG tankers.

Most Popular

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.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

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.