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Shipbuilding Marine Engineering Company News

08 Mar 2016

$4.3B: Daewoo Shipbuilding has Record Loss

South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) posted a KRW 5.13 trillion (USD 4.3 billion) worth loss for the full year of 2015. Due to writing down more charges from offshore projects which are under construction, Daewoo Shipbuilding & Marine Engineering Company, the world’s second-biggest shipbuilder, has posted a record loss of US$4.3 billion in 2015, according to Bloomberg. DSME’s sales fell by 23% when compared to the previous year standing at KRW 12.97 trillion and the company’s operating loss amounted to KRW 5.51 trillion, the company said in a stock exchange filing. The shipbuilder, which wrote off losses from offshore projects in the quarter due to delays…

18 Oct 2014

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering design (FEED) contract by Eni East Africa SpA for a floating liquefied natural gas (FLNG) facility for the Coral South Development Project located in Mozambique. With the award, the KD consortium will be one of three consortia competing for the engineering, procurement, construction, installation and commissioning (EPCIC) contract to build the new floating LNG facility for Eni East Africa and its partners to develop the hydrocarbon discovery in the Rovuma Basin in Mozambique. Only one consortium will be chosen to take the project to the EPCIC phase. FEED activities started in May 2014.

05 Nov 2001

BP Signs Crazy Horse Hull Fabrication Contract

BP Announced it has signed a Letter of Intent with Daewoo Shipbuilding & Marine Engineering Company, Ltd. of South Korea for detailed design, fabrication and transport of a semi-submersible unit for the Crazy Horse project in the Gulf of Mexico. The $380 million contract calls for delivery in the first quarter of 2004, in time for module integration and production startup in early 2005. equipment, a 188 person quarters, and a complete dual-hoist 2 million pound capacity 5th generation drilling system. Daewoo will build the unit at its fabrication yard in Okpo, Korea. The lower hull measures approximately 350 feet by 350 feet and the upper deck box will measure approximately 350 ft. by 450 ft. largest semisubmersible production/drilling unit in the world. (FEED) work.

08 May 2002

El Paso Announces Development of a Shipboard LNG Regasification System

El Paso Global LNG, a subsidiary of El Paso Corporation announced the development of EP Energy Bridge(TM), a new ship-based liquefied natural gas (LNG) regasification system. Using proven offshore buoy technology to moor the ship and proprietary technology to regasify LNG onboard the ship and discharge it through a subsea pipeline, EP Energy Bridge(TM) enables flexible, environmentally safe, and cost-effective delivery of natural gas directly to coastal regions eliminating the need of a conventional land-based terminal. This delivery system is expected to be operational and in service by 2005. "EP Energy Bridge(TM) gives El Paso the ability to serve existing baseload and peaking demand markets…

12 Jul 2007

Qatargas 4 Signs LNG Timecharter

Qatargas 4 signed a time charter agreement with Nakilat to use eight of the latter’s mega LNG tankers to ferry liquefied natural gas to QG4 customers worldwide, according to a report on www.gulf-times.com. Four of the eight vessels are in the Q-Flex and the others in the Q-Max categories. In February, Nakilat had signed with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Company for the construction of four Q-Flex and four Q-Max class vessels. Nakilat’s fleet, which is still under construction, will comprise some 25 LNG carriers scheduled to come into service over the next four years. (Source: www.gulf-times.com)

05 Jul 2001

Exmar Announces LNG Deals

Exmar, CMB's gas tanker division, together with Mitsui O.S.K. Lines, confirms the long-term charter party with El Paso Corporation of two further liquefied natural gas (LNG) tankers, thus bring the total to four vessels. They will be built by Daewoo Shipbuilding & Marine Engineering Company, Ltd. Each vessel will be constructed using the membrane system and have a capacity of approximately 138,000 cu. m. Deliveries will commence in 2004.