DSME Bags 4 VLCCs Order from Angelicoussis

Maritime Activity Reports, Inc.

July 14, 2017

Photo: Daewoo Shipbuilding & Marine Engineering

Photo: Daewoo Shipbuilding & Marine Engineering

 South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) won its second order from Maran Tankers Management (MTM), a subsidiary of  Greek shipping giant Angelicoussis Shipping Group,  to build four very large crude carriers (VLCCs).  

Yonhap quoted a regulatory filing of Daewoo saying that it will deliver the 318,000-ton vessels by Aug. 20, 2019. The vessels, 336 meters long and 60 meters wide, will be powered by eco-friendly and fuel-efficient engines, the shipyard said.
Daewoo did not reveal the value of the latest deal. However, given a typical VLCC costs around $80 million won, the order is estimated at $300 million. 
DSME will buid the vessels in the latest eco-friendly design in compliance with the environmental regulations of the International Maritime Organization (IMO).  
This is the second order from Angelicoussis Shipping for Daewoo Shipbuilding & Marine Engineering this year. In April, it ordered three VLCCs whose specifications are the same as the ones in the latest order. 
The Greek shipping firm is one of the major customers for Daewoo, with a total of 17 ships under construction for Angelicoussis at the yard's operations in South Korea and Romania.  
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