Daewoo Shipbuilding & Marine Engineering Wins Order for Three Ultra-Large Crude Oil Carriers Worth 282 Billion KRW

[Asia Economy Reporter Park So-yeon] Daewoo Shipbuilding & Marine Engineering (DSME) is doing its best to secure orders until the very end by winning contracts for three ultra-large crude oil carriers.

DSME announced on the 3rd that it had secured an order worth 282 billion KRW for three ultra-large crude oil carriers from ADNOC (Abu Dhabi National Oil Company), the state-owned oil company of Abu Dhabi, United Arab Emirates.

The ultra-large crude oil carriers ordered this time comply with the Energy Efficiency Design Index (EEDI) Phase 2, a greenhouse gas emission regulation implemented by the International Maritime Organization (IMO) starting this year. They will be built at DSME's Okpo Shipyard and are scheduled to be delivered to the shipowner by the first quarter of 2023.

A DSME official said, "This is the first time ADNOC has placed an order for ultra-large crude oil carriers with a Korean shipyard, and it is a company from which additional orders for other vessel types are expected in the future. The contract includes an option to order three more vessels, so we will do our best to build ships of the highest quality and maintain a continuous friendly relationship."

Instead of installing scrubbers for desulfurization, these vessels include an option to use low-sulfur fuel oil or to be converted into dual-fuel propulsion ships capable of using liquefied natural gas (LNG) as fuel in the future. If LNG propulsion is chosen, it is expected to be the world's first ultra-large crude oil carrier equipped with a high-pressure dual-fuel engine (ME-GI engine) and fuel tanks made of high manganese steel.

With expectations for global economic recovery and increasing demand for LNG-powered tankers due to environmental trends, DSME, which possesses the best technology in the ultra-large crude oil carrier sector, is expected to benefit. Along with this, the company is expected to accelerate its ultimate goal of decarbonization. According to Clarkson Research (as of the end of November), DSME has built 161 of the 834 ultra-large crude oil carriers currently in operation worldwide, the largest number by a single shipyard.

Meanwhile, DSME has secured orders for a total of 21 vessels worth approximately 4.06 billion USD this year, including 9 LNG carriers (including LNG-FSU and FSRU), 4 container ships, 2 shuttle tankers, 5 VLCCs, and 1 VLGC, achieving about 56.3% of its target.

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