Chandris Orders One More LNG Carrier at DSME

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a repeat order for construction of a liquefied natural gas (LNG) carrier from Greek ship owner Chandris (Hellas).

The order relates to one 173,400 cbm LNG carrier, offered in the form of option in a contract signed in December last year when Chandris ordered a firm LNG newbuilding of 174,000 cbm.

Chandris has teamed up with Japanese counterpart K Line, which will be in charge of the management of the LNG carriers.

The LNG duo will feature M-type electronically-controlled gas-injection (ME-GI) propulsion systems and are scheduled for delivery in the second half of 2018.

DSME said that it has won a total of 29 orders for construction of LNG carriers featuring ME-GI.

South Korean shipbuilder confirmed last week to be in discussions with its creditors on potential moves that would improve the company’s financial status as the company pursues restructuring plans.

The shipbuilder said in a filing with Korea Stock Exchange that it was considering various measures with creditors, but it did not disclose any further details on potential arrangements that might be involved in the process.

The announcement comes on the back of DSME’s share plunge on Wednesday, following a media report that the company had amassed around KRW 2 trillion (USD 1.8 billion) of losses that have not yet been booked.

DSME closed at 8,750 won in Seoul trading Wednesday, marking a 30% fall and reaching its lowest level in more than 12 years.

Korea Development Bank and the Export-Import Bank of Korea are expected to lead the bailout plan of the troubled shipbuilder.

World Maritime News Staff