Daewoo Shipbuilding bags LNG ship order

(Image Courtesy: Business Korea)

Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipyard, said Thursday it has secured an order to build a liquefied natural gas (LNG) carrier for a Greek shipper.

Under the deal with Maran Gas Maritime (MGM) Inc., an affiliate of Greece’s largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver the vessel by the fourth quarter of 2021, the shipbuilder said in a statement.

The company didn’t provide the value of the contract.

With the order, Daewoo Shipbuilding has achieved 36 percent, or US$3 billion, of this year’s annual order target of $8.37 billion, it said.

The company said six of the seven LNG shipbuilding orders received this year were from MGM, adding the two sides are currently in talks on additional LNG carrier orders.

(Source: Yonhap)

Sea News, August 23

Baibhav Mishra
Author: Baibhav Mishra