Daewoo Shipbuilding Wins Order for 2 LNG Carriers Worth 585.1 Billion KRW at Greece Expo

President Park Doo-sun of Daewoo Shipbuilding & Marine Engineering (right) and Chairwoman Maria Angelicoussis of the Angelicoussis Group (left) shaking hands after signing the contract for the construction of a liquefied natural gas (LNG) carrier. (Photo by Daewoo Shipbuilding)

[Asia Economy Reporter Moon Chaeseok] Daewoo Shipbuilding & Marine Engineering announced on the 9th that it has received an order for two LNG carriers worth 585.1 billion KRW from Maran Gas Maritime, a subsidiary of Angelicoussis Group, the largest shipping company in Greece.

Daewoo Shipbuilding secured this order at the Posidonia Exhibition in Greece, one of the world's largest ship and marine fairs held for the first time in four years since 2018. The vessels will be built at the Okpo Shipyard and delivered to the shipowner in the first half of 2026.

The LNG carriers ordered this time are large vessels with a capacity of 174,000 cubic meters, equipped with Daewoo Shipbuilding's proud high-pressure dual-fuel propulsion engine (ME-GI) and advanced reliquefaction facilities.

Daewoo Shipbuilding's smart energy-saving technologies, such as the shaft generator motor system (SGM) and air lubrication system (ALS), which improve fuel efficiency and reduce carbon dioxide and sulfur oxide emissions, will also be applied. Since 1994, Angelicoussis Group has ordered 118 vessels exclusively from Daewoo Shipbuilding. Since November last year alone, they have ordered eight LNG carriers.

A Daewoo Shipbuilding official said, "We have secured orders for 18 LNG carriers this year, surpassing last year's total performance of 15 vessels in just six months," adding, "We will do our best to secure additional orders based on our overwhelming technological capabilities."

So far, Daewoo Shipbuilding has secured orders worth approximately 5.93 billion USD (about 7.45 trillion KRW) for a total of 26 vessels and units, including 18 LNG carriers, six container ships, one offshore plant, and one repair and maintenance vessel. This achievement accounts for about 66.6% of this year's target of 8.9 billion USD.

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