Daewoo Shipbuilding Marine Engineering Co News

Auxiliary wind propulsion systems provider Norsepower announced a contract for the delivery and installation of two Norsepower Rotor Sails on a newbuild Very Large Gas Carrier (VLGC) for global shipping company IINO Lines.The new LPG dual fuel ship – delivered today from Daewoo Shipbuilding & Marine Engineering Co., Ltd in Korea is ready to be equipped with two bespoke 20m tall Norsepower Rotor Sails side by side. The new, specially designed, 20m x 4m units have been developed to accommodate the vessel’s specific air draught limits.

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd signed a tentative agreement on Monday for Hanwha Group to invest 2 trillion won ($1.4 billion) in return for a 49.3% stake and management rights in the shipbuilder, the companies and Daewoo's major stakeholder said. The agreement, signed with affiliates of Hanwha Group including Hanwha Aerospace, will only be valid if Hanwha is chosen after a period of being open to other bids, Daewoo said in a regulatory filing. State-run Korea Development Bank (KDB) owns a 55.7% stake in the shipbuilder.

A dual-fuel LNG (liquefied natural gas) shuttle tanker1 ordered by Knutsen NYK Offshore Tankers AS,2 which is an affiliate of NYK, was delivered on August 2 at Daewoo Shipbuilding & Marine Engineering Co. Ltd. The vessel has been named Frida Knutsen.The shuttle tanker will be chartered to ENI Trade & Biofuels S.p.A, a subsidiary of Ente Nazionale Idrocarburi S.p.A (ENI), 3 and will be engaged in oil transportation in the North Sea and Barents Sea.The vessel will be KNOT's first dual-fuel shuttle tanker that can use not only heavy fuel oil but also LNG.

Daewoo Shipbuilding & Marine Engineering Co Ltd. reportedly an order for nearly $500 million (649.5 billion won) to build a pair of liquefied natural gas (LNG) carriers for a European company.

Greek dry bulk shipping company Diana Shipping announced on Friday it has secured a time charter contract for one of its Kamsarmax vessels.Singapore-based Tongli Shipping will charter the 81,513 dwt Astarte starting January 31 through at least April 15, 2023 up to maximum June 15, 2023.The gross charter rate is $21,500 per day, minus a 5% commission paid to third parties, Diana said, adding it expects the employment to generate approximately $9.35 million of gross revenue for the minimum time charter period.One of five Kamsarmaxes in Diana's 33-vessel fleet, Astarte was built in 2013 at South Korea's Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME).

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co has ordered from Huisman a 2,600mt Leg Encircling Crane (LEC), to be installed on Eneti’s newbuild wind turbine installation vessel (WTIV)."The new Leg Encircling Crane has a 147-meter long boom, capable of reaching 170 meters above deck. With its 2,600mt lifting capacity, the crane will be able to install up to 20MW turbines, which are expected to come to the market in the near future," the Dutch-based Huisman said.Huisman will design…

Italian offshore engineering and construction firm Saipem, in a joint venture with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), has won a contract with Brazil's Petrobras to build an FPSO for the Búzios offshore field in Brazil.The FPSO P-79 project is worth overall approximately $2.3 billion. Saipem’s portion is approximately $1.3 billion.The FPSO vessel will allow initial separation of gas from the oil extracted in the deep offshore reservoir and will have a production capacity of 180…

Offshore drilling company Valaris, the world's largest by fleet size, has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization, and has agreed with Korea's Daewoo to delay deliveries of two newbuild drillships.The offshore driller filed for bankruptcy in August 2020, in a move to restructure its debt load and reduce debt by more than $6.5 billion.The company this week said that in addition to bankruptcy court confirmation, the plan received support from approximately 80% of the company's unsecured notes and bank lenders representing 100% of the company's credit facility claims.

Maritime and offshore classification society American Bureau of Shipping (ABS) has granted Approval in Principle (AiP) for the design of what it described as "a wide breadth, single row, near-shore LNG Floating Production Storage Offloading Vessel (FPSO) hull with a jetty-moored system." The hull design has been developed by South Korea's Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME).The 64m wide barge-shaped hull features a GTT NO96 single row containment system with a storage capacity of 209,000 m3.

Standard Drilling, an offshore driller turned offshore support vessel owner, has now decided to make another shift in its game.The company, which in 2013 sold off its offshore drilling rigs, only to return as offshore vessel owner in 2016, on Tuesday said it would enter the tanker market by acquiring a 33.3% ownership in a newly built VLCC.Delivery from the yard, Daewoo Shipbuilding & Marine Engineering Co in Korea, is expected later this week. The purchase price of the VLCC is $106 million.Standard Drilling will invest $36.5 million…

Resulting entity would control about 20 pct of global market; Daewoo shares rally 22 pct; Hyundai Heavy shares fall.Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.The move comes as the worldwide shipbuilding sector recovers from a global economic downturn that led to massive losses…

South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) has clinched a $366 million order to build four units of very large crude carriers (VLCCs) from an unidentified shipper in the Oceanian region.According to a regulatory filing, the four tanker vessels which will be delivered in 2021. This marks the second large VLCC order in under a month.According to Yonhap, DSME is aiming to win $8 billion worth of new orders this year, up 10 percent from last year's order target of $7.3 billion.Last year, the shipyard clinched deals valued at $6.81 billion.South Korean shipyards snatched up deals to build 34 VLCCs last year, accounting for 83 percent of the total placed around the globe for such ships.

Shares of Daewoo Shipbuilding & Marine Engineering Co Ltd rise as much as 3.8 pct.The South Korean shipbuilder says it has received a new order worth 444 bln won ($397.28 mln) from the country's procurement agency, Defence Acquisition Program Administration (DAPA), to build one ship.Separately, BlackRock Inc increased its stake in Daewoo Shipbuilding to 5.57 pct from 4.42 pct, according to co's regulatory filing on Thursday. The stake purchase by the U.S. investment firm underlines its positive outlook for the shipbuilding industry, says Um Kyung-a, an analyst with Shinyoung Securities.Reporting by Heekyong Yang

The world's second-largest shipbuilder by orders Daewoo Shipbuilding & Marine Engineering Co (DSME) has clinched a US$370 million deal to build two LNG carriers.A report in Yonhap said that  under the deal with an unidentified customer, the South Korean shipbuilder is set to deliver the 174,000-cubic-meter ships by the first half of 2021.The Korean shipyard has an option to build four more vessels as well, it said. The company informed that the deal on the options would be finalized in 2019.DSME has won deals valued at a combined $5.64 billion to build a total of 41 ships, including 16 very large oil tankers so far this year.According to Yonhap, with the latest deal, Daewoo Shipbuilding has met some 77 percent of its annual order target of $7.3 billion.

Daewoo Shipbuilding & Marine Engineering says it signs $273 mln order.Daewoo Shipbuilding & Marine Engineering Co Ltd says has signed an order worth 306 billion won ($272.51 million) for three oil container ships from a European shipowner. Source: Eikon:Reporting by Joori Roh

The second 170,000-cubic-meter ice-class liquefied natural gas (LNG) carrier provided by Teekay to the Yamal LNG project was delivered to the charterer in Sabetta, Russia, in September.The new ship, Rudolf Samoylovich, was delivered on September 6, nearly three months earlier than anticipated, at the request of the charterer.The vessel joins the Eduard Toll as the second of six Arc-7 LNG carriers that Teekay will provide to the Yamal LNG project by 2020.The vessel transited the…

Three new liquefied natural gas (LNG) tankers capable of plowing through the Arctic ice have completed sea trials in recent weeks and are due to start operations at the Yamal LNG terminal in northern Russia, Reuters shipping data shows.Novatek's Yamal terminal has been ramping up LNG shipments faster than expected after loading its first cargo in December 2017, with two trains now running at capacity and a third being commissioned.As part of the project, the first along northern Russian shores that are trapped by thick ice for most of the year, 15 carriers in the Arc7 class were ordered from South Korea's Daewoo Shipbuilding & Marine…

The government of South Korea decided to invest 1.35 trillion won (USD 1.2 billion) in Korea Ocean Business Corporation (KOBC). The compnay was created in order to help its shipping industry stand on its feet, especially after the bankruptcy of Hanjin Shipping.Yonhap reported quoting the finance ministry that Cabinet approved a plan to contribute 12.7-percent stakes in each of the country's four port authorities to the KOBC.Earlier this month, the corporation was officially launched in Busan, South Korea's maritime gateway on the southeastern coast, nearly one year after the government proposed setting up the agency. The agency's initial capital base is set at 3.1 trillion won.The government also plans to invest 200 billion won in the agency.

South Korea's Hyundai Merchant Marine (HMM) has selected  country’s three major shipbuilder and signed letters of intent (LOIs) with them to build 20 container carriers by mid-2021, reported Yonhap. According to company sources, as quoted by Reuters, the South Korea’s largest shipper believes that through the acquisition of the most technologically advanced mega container ships, it can strengthen cost competitiveness and react rapidly to the international environmental regulations. The Yonhap report said that HMM signed an LOI with Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. to place three separate orders to build twelve 23,000 twenty-foot equivalent unit (TEU) and eight 14,000 TEU container carriers.

Mitsui O.S.K. Lines (MOL) announced that MOL, has entered into a preliminary agreement to supply a Floating Storage and Regasification Unit (FSRU), as well as Jetty Operation & Maintenance Services for the Hong Kong Offshore LNG Terminal Project on a long term contract. MOL will utilize the "MOL FSRU Challenger" built in 2017 with a storage capacity of 263,000m3 which remains the largest FSRU in the world today, to provide services to the Hong Kong Offshore LNG Terminal Project. The FSRU was constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd. in South Korea and is currently employed on a mid-term charter for a project in Turkey. The Hong Kong Offshore LNG Terminal Project will be located at the southern waters of Hong Kong and to the east of the Soko Islands.

Nakilat has expanded its joint venture partnership with Greek shipping company Maran Ventures Inc., to include two additional LNG vessels. Maran Nakilat Co. Ltd. was first established in 2005 with four jointly-owned LNG vessels, and was further expanded on several occasions. This new agreement increases the number of vessels jointly-owned by Nakilat and Maran Gas from 13 to 15 vessels. The two newly added vessels, Woodside Rogers and Woodside Goode, are equipped with modern technology and built by Daewoo Shipbuilding & Marine Engineering Co (DSME). In addition, the two vessels are under long-term charter, and equipped with Dual Fuel Diesel-Electric (DFDE) propulsion models with a capacity of 159,800 cubic metres each. Nakilat’s Chief Executive Officer Eng.

A new icebreaking liquefied natural gas (LNG) carrier jointly owned by Mitsui O.S.K. Lines, Ltd. (MOL) and China COSCO Shipping Corporation Limited (China COSCO Shipping) loaded its first cargo at the Yamal LNG plant in northern Russia. The 299m, 172,000m3 Vladimir Rusanov conducted it is first loading for Yamal LNG at Sabetta port on March 27 and 28. Vladimir Rusanov left South Korea’s Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) Okpo shipyard after her naming ceremony in December 2017 and headed to the Arctic Ocean through the Suez Canal for three weeks of ice trials.

Maritime Reporter & Engineering New’s Great Ship of 2017 Award was presented to Mr. Yoshikazu Kawagoe, Chief Technical Officer, Mitsui O.S.K. Lines in MOL’s headquarters in Tokyo. A full report on the world’s 3rd largest shipowner will publish soon in the pages of MR. Mitsui O.S.K. Lines, Ltd. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the…