DSME Clinches Order for Four Ships from Angelicoussis Shipping

Maran Tankers Management (MTM) and Maran Gas Maritime, oil tanker and gas shipping units of the Angelicoussis Shipping Group Limited (ASGL), have placed an order for four new ships with South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME).

Based on the terms of the contract signed on Wednesday, June 8th, the order comprises of two 173,400 cbm LNG carriers and a pair of 318,000 TDW VLCCs.

According to DSME, the contract, which includes options for up to four more units, is worth some KRW 5.8 billion (USD 501 million) and represents the biggest contract signed by the yard this year.

Should the options for two more LNG carriers and 2 VLCCs be exercised the order value would be brought up to KRW 11 billion (over USD 1bn).

The 173,400 cbm LNG ships have a length of 295m, a width of 46m and boast DSME’s ME-GI engine. The 318,000-ton VLCCs span a length 336m, width of 60m and integrate the latest high-efficiency engines and fuel-saving technologies, the shipbuilder said.

The delivery of the LNG carriers is scheduled for 2019, while VLCCs are slated for delivery in the first half of 2018.

Angelicoussis Shipping has 21 ships being built at DSME’s yards.

The timely order is expected to gain favor with DSME’s creditors who have just approved the shipbuilder’s USD 4.47 billion self-rescue plan.

World Maritime News Staff