Daewoo Shipbuilding Bags Order for LNG Carrier
Daewoo Shipbuilding & Marine Engineering, the world’s second-largest shipbuilder, signed a $100 million contract to build an LNG carrier. It has now signed five deals this year, worth about $1 billion in total. The company declined to reveal the name of its partner.
The new order is for a 174,000m³ eco-type LNG carrier which will be equipped with an in-house LNG supply system which offers a 20% reduction on fuel consumption compared to Dual Fuel Diesel Electric (DFDE) engines, as well as reducing the carbon dioxide, sulphur and nitrogen emissions by 30%.
The Okpo-based shipbuilder did not reveal the buyer or a delivery date. The latest order cements DSME's status as a leader in the construction of LNG carriers.
DSME CEO Ko Jae-ho said, "DSME's technology in LNG carriers is recognised by customers around the world. Based on our core technology, which shows both economic feasibility and environmental performance, we'll lead the eco-friendly vessel market."
It remains to be seen whether the Korean shipbuilder can remain strong in the market, but experts have positive expectations as the shipbuilder clinched a total of 37 LNG deals last year amid a worsening market environment.
DSME's performance was noticeable, especially as 2014 was regarded as one of the worst years for shipbuilders. Experts say the plunge in oil prices and an abrupt decline in new building orders deteriorated the market conditions.