DSME Attains Annual Order Goal

Ships are under construction at the Daewoo Shipbuilding & Marine Engineering Co. (DSME) shipyard in Geoje, South Korea, on Wednesday, April 22, 2009. Daewoo Shipbuilding & Marine Engineering Co. is the world's third-largest shipyard. Photographer: Seokyong Lee/Bloomberg News

Daewoo Shipbuilding & Marine Engineering (DSME) has won an order for four liquefied natural gas (LNG) carriers from an Asian client. The deal, worth 990 billion won, helped the shipbuilder attain its annual order goal, the first time in seven years.

The ships ordered this time are 174,000-cubic-meter LNG carriers. They will be loaded with dual fuel propulsion engines (ME-GA) and more advanced gas management systems. These vessels, to be delivered to the client by the second half of 2024, can satisfy the strengthened regulations on greenhouse gas emissions by drastically reducing methane exhaust gas emissions, the main culprit behind greenhouse gas emissions.

The latest deal helps DSME attain its annual order target early. It has thus far won orders worth US$8.04 billion, including 16 container ships, 11 super-large crude oil carriers, nine ultra-large LPG carriers, six LNG carriers, one WTIV, one submarine and two offshore plants. It achieved 104 percent of this year’s order target of US$7.7 billion.

DSME has reached its order goal for the first time in seven years. It racked up more than US$8 billion in orders for the first time since its order intake reached US$14.9 billion in 2014.

Source: businesskorea.co.kr