DSME wins LNG carrier order, poised to meet 2022 target

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won an order to build an LNG carrier.

Illustration/LNG Carrier; Source: DSME

The order, worth KRW 311 billion ($201 million), was secured by an undisclosed Asian shipowner.

The 174,000 cum LNG carrier is set for delivery by the end of September 2026, according to a stock exchange filing from DSME dated August 12.

Industry reports have linked Japanese MOL with the order.

The order is being reported in less than a month from a contract DSME signed with an unnamed European shipowner for two LNG carriers worth KRW 649.5 billion.

These  174,000 m3 class ships will be built at Okpo Shipyard and delivered to the owner in the second half of 2026. Like the latest order, they will be equipped with a low-pressure dual fuel propulsion engine (ME-GA). The vessels will also be fitted with DSME’s smart energy-saving systems, such as the Shaft Generator Motor and Air Lubrication System.

DSME said in July that it had secured 72 percent of its orderbook target having won orders for 26 vessels, worth $6.43 billion. The latest round of contracts is estimated to have pushed this mark to around 75 percent. The majority of vessels ordered this year are dual fuel-powered, according to DSME. The company said that it expects to meet its target for this year of $8.9 billion without major challenges.

DSME is facing an uncertain period ahead as its privatization process has hit a roadblock and its majority owner Korea Development Bank (KDB) is said to be looking into breaking up the company through separate sales. Unionized workers at the yard have voiced their opposition to the potential model of restructuring and have just emerged from a 51-day strike.