Daewoo Shipbuilding to Build Two VLGCs for Asian Client

  • Business & Finance

South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering has secured an order for the construction of two 84,000-ton liquefied natural gas carriers, worth a total of $160 million, Yonhap cited Daewoo as saying.

Daewoo Shipbuilding to Build Two VLGCs for Asian Client

Daewoo did not want to reveal the name of the company that ordered the vessels on the grounds of a previously signed confidentiality agreement, however the buyer is said to be an Asian shipping company.

The carriers are scheduled to join their owner’s fleet by the end of 2016.

As revealed by the shipbuilder, the order is actually an exercised option from a contract signed for four firm and four optional very large gas carriers (VLGCs) worth some $640 million early this year.

Trade Winds claims that based on the contract details the buyer is China’s Shandong Shipping.

Nevertheless, the second potential client could be China Peace, which sealed a similar deal with Daewoo in February.

World Maritime News Staff, May 7, 2014

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