Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that it has clinched a US$250 million deal to build three very large crude carriers (VLCCs) for Maran Tankers Management, a unit of Greece’s largest shipper, Angelicoussis Shipping Group. Daewoo Shipbuilding will deliver the 318,000-ton VLCCs by 2018.
Angelicoussis is one of the major clients for Daewoo Shipbuilding. The company is currently building 18 ships for the Greek shipper.
Late last year, Daewoo also bagged a 700 billion won order from Angelicoussis to build a liquefied natural gas-floating storage and regasification (LNG-FSRU) ship.
The deal came as the South Korean shipbuilder is struggling to tide over a deepening cash shortage.