Daewoo Shipbuilding & Marine Engineering Secures Order for 2 LNG Carriers Worth 502.1 Billion KRW

Greece's Largest Shipping Company Exercises Contract Option in November Last Year

LNG carrier built by Daewoo Shipbuilding & Marine Engineering

[Asia Economy Reporter Choi Dae-yeol] Daewoo Shipbuilding & Marine Engineering announced on the 6th that it has secured an order worth 502.1 billion KRW for two liquefied natural gas (LNG) carriers. This is the first order of the year.

The vessels were ordered by Marangas, a subsidiary of Angelicoussis Group, the largest shipping company in Greece, as an option from a contract signed in November last year. They will be built at the Okpo Shipyard in Geoje and are scheduled for delivery in the second half of 2025. The newly ordered ships are large LNG carriers with a capacity of 174,000 cubic meters, equipped with dual-fuel propulsion engines and more advanced reliquefaction systems. The company explained that these features significantly reduce atmospheric emissions of methane gas, a major greenhouse gas.

The ordering party, Angelicoussis Group, has ordered a total of 114 vessels from Daewoo Shipbuilding since their first contract in 1994. The first newbuilding project under Maria Angelicoussis, who took office last year, was entrusted to Daewoo Shipbuilding in November, and shortly thereafter, the option was exercised. A company official said, "We succeeded in securing the first order about ten days earlier than last year, so the outlook for this year is bright," adding, "We will selectively secure orders focusing on eco-friendly, high value-added vessels centered on LNG carriers to ensure workload and profitability."

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