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Daewoo Shipbuilding Bags LNG Carrier Order

Maritime Activity Reports, Inc.

July 20, 2015

 South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said it has received an order for a new LNG carrier from a ship management specialist Chandris of Greece. 

The new deal calls for Daewoo to deliver the LNG vessel, able to carry 173,400 cubic meters of natural gas, to the Greek shipowner Chandris by the latter half of 2018, according to the South Korean shipbuilder. Financial terms of the contract were not revealed.

DSME added that the LNG carrier will feature ME-GI propulsion. With this order, DSME has won 29 orders for LNG carriers equipped with ME-GI engines.
As of end-June, Daewoo was the world's largest shipbuilder by order backlog for eight consecutive months, according to industry data.
The latest contract comes despite concerns that Daewoo could be strapped for cash amid reports that it may have to book accumulated losses, estimated at some 2 trillion won (US$1.74 billion), on its balance sheet.

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