Daesun Shipbuilding Undergoing Sale, Achieves 64% of Annual Order Target with Consecutive Contracts

50,000t Petrochemical Tankers 2+2 Vessels Worth Around 160 Billion KRW Ordered on the 30th of Last Month... 'Wings' for Sale Process

Daesan Shipbuilding, Daedae Shipyard view.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Daesun Shipbuilding, currently undergoing a sale process, has succeeded in securing an order for ships worth 160 billion KRW.

Daesun Shipbuilding announced on the 2nd that it signed a contract on October 30th worth 160 billion KRW with a Liberian shipowner for two 50,000 DWT petrochemical product carriers (with an option for two more vessels).

With this order, Daesun Shipbuilding has achieved 64% of its annual target order amount for this year. Recently, it has been enjoying steady success by building a total of six confirmed vessels: two from Singapore's Wilmar and two from Singapore's EPS. The ordered ships are scheduled for delivery in 2022.

The ordered vessels comply with recently strengthened environmental regulations, including the installation of Ballast Water Treatment Systems (BWTS) and adherence to the Energy Efficiency Design Index (EEDI).

They are also environmentally friendly ships equipped with an LNG conversion option that allows future conversion to LNG-fueled propulsion. This option includes pre-reflected installation of essential equipment such as LNG fuel tanks and LNG fuel supply systems.

Daesun Shipbuilding expects this to be an opportunity to enter the LNG fuel market through its own medium-sized shipyard design.

Daesun Shipbuilding’s main creditor bank, the Export-Import Bank of Korea, is currently conducting the sale process, and this order is expected to strengthen its position in the sale negotiations. Recently, Dongil Steel was selected as the preferred negotiation partner and is conducting due diligence and acquisition negotiations.

This content was produced with the assistance of AI translation services.