Daewoo Shipbuilding & Marine Engineering wins orders worth about 1.9 trillion KRW... 8 vessels including LNG carriers

Daewoo Shipbuilding & Marine Engineering's LNG Carrier

[Asia Economy Reporter Donghoon Jeong] Daewoo Shipbuilding & Marine Engineering (DSME) has succeeded in securing a large-scale ship order worth approximately 1.9 trillion KRW during the Lunar New Year holiday period.

On the 3rd, DSME announced that it received orders for eight vessels totaling 1.8438 trillion KRW, including two LNG carriers from Marangas, a subsidiary of Angelicoussis Group, Greece's largest shipping company, and six container ships from European shipowners. These vessels will be built at the Okpo Shipyard and delivered to the shipowners in the second half of 2025.

The LNG carriers ordered this time are large-scale vessels with a capacity of 174,000 cubic meters. They are equipped with DSME's proud high-pressure dual-fuel propulsion engine (ME-GI) and a more advanced re-liquefaction system (Gas Management System), which can significantly reduce atmospheric emissions of methane gas, a major greenhouse gas. This enables effective compliance with strengthened greenhouse gas emission regulations.

With the global trend toward decarbonization, orders for LNG carriers are expected to continue increasing, and DSME, which has built the most LNG carriers, is likely to secure a favorable position. According to Clarkson Research (as of the end of January), out of 686 LNG carriers currently in operation worldwide, DSME has built the largest number, 174 vessels (about 25%).

In addition, DSME offers various options to shipowners as it possesses not only the high-pressure dual-fuel propulsion engine (ME-GI), which is gaining increasing interest in the market, but also the low-pressure dual-fuel propulsion engine (XDF / ME-GA). Especially, DSME leads technology in related fields based on its experience as the world’s first builder of LNG-related products such as icebreaking LNG carriers.

A DSME official stated, "We secured an order volume in just one month equivalent to what we had secured until May last year (about 2.74 billion USD)." He added, "This year, we will do our best to secure work and profitability through selective orders focusing on eco-friendly high value-added vessels such as LNG carriers and dual-fuel propulsion ships."

So far, DSME has secured orders for a total of 12 vessels and offshore plants worth about 2.7 billion USD, including five LNG carriers, six container ships, and one offshore plant. End.

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