DSME scores Hyundai LNG carrier order

DSME scores Hyundai LNG carrier deal

South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) has won a 217 bln won ($195.6 million) order for the construction of a large LNG carrier from Hyundai LNG Shipping.

Illustration; Courtesy of DSME
DSME scores Hyundai LNG carrier order
Courtesy of DSME

The 174,000-cubic metres LNG carrier will be built at the Okpo Shipyard. It will be delivered to the owner by the fourth quarter of 2023.

The vessel is planned for a long-term charter contract with Repsol, a major energy company in Spain. This will be Hyundai LNG Shipping’s first contract with a European shipper.

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The LNG carrier will be equipped with a natural gas propulsion engine (ME-GI) and DSME’s re-liquefaction system, thus increasing fuel efficiency and lowering ghg emissions compared to existing LNG carriers.

Hyundai LNG Shipping is said to be satisfied with the fuel efficiency and performance of the two natural gas-powered LNG carriers delivered from DSME in 2017.

This year, DSME has won orders for a total of 26 vessels worth about $2.74 billion, including eleven extra-large crude oil carriers, nine extra-large LPG carriers, four container ships, one LNG carrier, and one wind turbine installation vessel (WTIV). With this, the company has already achieved about 35.6 per cent of its annual target of $7.7 billion.