DSME Wins Order For 174,000cbm LNGC From Hyundai Worth KRW 216.9 Billion

Daewoo Shipbuilding & Marine Engineering (CEO Sung-geun Lee) won an order for a large LNG carrier, raising the pride of the famous LNG carrier construction company.

Daewoo Shipbuilding & Marine Engineering announced on the 31st that it has won an order for a large LNG carrier for about KRW 216.9 billion from Hyundai LNG Shipping (CEO Kyu-Bong Lee), a domestic LNG-specialized shipping company. The ship is expected to be built at the Okpo Shipyard and delivered to the shipowner by the fourth quarter of 2023.

The LNG carrier ordered this time is a 174,000㎥-class large LNG carrier, equipped with a natural gas propulsion engine (ME-GI) and a reliquefaction facility that Daewoo Shipbuilding & Marine Engineering boasts, which can increase fuel efficiency and reduce pollutant emissions compared to existing LNG carriers.

LNGC DSME
Image Credits: dsme.co.kr

In particular, it is known that Hyundai LNG Shipping is also satisfied with the fuel efficiency and performance of two natural gas-powered LNG carriers that were delivered from Daewoo Shipbuilding and Marine Engineering in 2017.

With this contract, the deep trust relationship between the two companies is drawing attention. Hyundai LNG Shipping, the best LNG shipping company in Korea, ordered a large LNG carrier to Daewoo Shipbuilding and Marine Engineering in just one month after ordering two ultra-large dual-fuel LPG carriers in April. In addition, the two companies have maintained a trust relationship by conducting joint research together with not only shipbuilding but also smart ship technology development.

A representative from Daewoo Shipbuilding & Marine Engineering said, “In order to respond to the ship’s deep trust, we will build the highest quality ships and deliver them in a timely manner.” We are looking forward to receiving additional orders for LNG carriers starting with the company.”

An official from Hyundai LNG Shipping said, “This vessel is a vessel to be put into a long-term charter contract with REPSOL, a major energy company in Spain, and it is very meaningful in that it is the first contract with a European shipper.” We plan to expand the area.”

This year, Daewoo Shipbuilding & Marine Engineering won a total of 26 ships, including 11 ultra-large crude oil carriers, 9 ultra-large LPG carriers, 4 container ships, 1 LNG carrier, and 1 WTIV, worth $2.74 billion this year. Achieved about 35.6%.

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