DSME secures order for ultra-large LPG carrier trio

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a deal for the construction of three eco-friendly ultra-large liquefied petroleum gas (LPG) carriers.

Image Courtesy: DSME

The contract, signed with an unnamed European shipowner, has been valued at KRW 265 billion ($234 million), DSME said in a stock exchange filing on 16 March 2021.

The three 91,000 cbm LPG carriers will be built at the Okpo Shipyard and are scheduled for delivery by 31 October 2023.

As explained, they will feature the builder’s eco-friendly technology with an LPG dual-fuel propulsion system.

Last week, the shipbuilder also reported huge tanker orders with a combined worth of KRW 1.1 trillion. The orders encompass ten LNG-fueled very large crude carriers (VLCCs) to be built by DSME for Advantage Tankers, AET and International Seaways.

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The Korean shipbuilder has so far this year secured orders worth $1.79 billion including nineteen vessels — ten VLCCs, five LPG carriers and four containerships –, representing 23 per cent of the shipbuilder’s 2021 order target of $7.7 billion. Fifteen of the nineteen ordered units will have hybrid propulsion.

Daewoo Shipbuilding is soon to be officially merged with compatriot Hyundai Heavy Industries Group (HHI) after it obtains several more regulatory approvals, including the much-needed one from the European Union.