DSME shipbuilding orders surge

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) won two large orders in July and its secured orders value for 2014 is about 5.8 billion USD.

On July 8th, DSME inked new orders for nine Arc 7 icebreaking LNG carriers.

DSME received six LNG carrier orders from Teekay & CLNG, a joint venture between Canada’s Teekay and China’s CLNG, and the remaining three orders are with MOL & CSLNG, a joint venture between Japan’s MOL and China’s CSLNG.

This vessel is the first icebreaking LNG carrier. It is able to load 170,000 cbm of LNG and is capable of breaking 2.1 meters thick ice which is commonly found in the Arctic Ocean. The carrier has applied anti-freezing technology that can operate in conditions of minus 52 degrees Celsius. For stable sailing, the vessel possesses a three set POD propulsion system which supports easy steering and propelling of this massive ship.

DSME began experimenting with the technology in 2008 using a 10 ton oil tanker. Since then, DSME has developed LNG carriers and drill ships that can weather the harsh conditions found in the region.

Jeaho Ko, the president and CEO of DSME said: “The Arctic possesses enormous potential for development. It is meaningful that our efforts to enter the Arctic carrier market have been brought to fruition.”

DSME won an additional order for four Very Large Crude Oil Carriers (VLCC) on the 30th of July.

Jeaho Ko signed a new contract with John Angelicoussis, the chairman of Angelicoussis Group. The value of the contract is approximately 400 million USD and Maran Tankers Management will be operating and managing the vessels.

This vessel is equipped with DSME’s latest eco-ship design which features such advancements as a high efficiency engine and fuel saving technologies. The two companies also agreed to build additional vessels which will be propelled by LNG.

In 1994, Angelicoussis Group ordered the first vessel from DSME and since then the company has built more than 60 vessels at Okpo shipyard.

Press Release, August 14, 2014; Image: DSME