Daewoo Shipbuilding & Marine Engineering Ends Strike, Secures Two Large LNG Carriers for 649.5 Billion KRW

A large LNG carrier built by Daewoo Shipbuilding & Marine Engineering. Photo by Daewoo Shipbuilding & Marine Engineering

[Asia Economy Reporter Jeong Dong-hoon] Following the conclusion of a long-term strike by subcontractor unions and the dock (shipyard) occupation protest, Daewoo Shipbuilding & Marine Engineering (DSME) has secured orders for large liquefied natural gas (LNG) carriers, achieving over 70% of this year's order target.

On the 25th, DSME announced that it had received an order worth 649.5 billion KRW for two large LNG carriers from a European shipowner. These vessels will be built at the Okpo Shipyard and are scheduled to be delivered to the shipowner in the second half of 2026.

The LNG carriers ordered this time are large 174,000㎥ class vessels equipped with DSME’s renowned low-pressure dual-fuel propulsion engines (ME-GA) and more advanced reliquefaction systems. Additionally, DSME’s smart energy-saving technologies such as the shaft generator motor system (SGM) and air lubrication system (ALS) have been applied extensively to improve fuel efficiency and reduce emissions of carbon dioxide and sulfur oxides, representing cutting-edge eco-friendly technologies.

A DSME official stated, "Following last year, we expect no issues in achieving this year’s order target as well. We will do our best to secure profitability through a strategy focused on eco-friendly, high value-added vessels."

So far, DSME has secured orders worth approximately 6.43 billion USD (about 8.4413 trillion KRW) for a total of 28 vessels, including 20 LNG carriers, 6 container ships, 1 offshore plant, and 1 repair and maintenance project, achieving about 72.2% of the target of 8.9 billion USD (about 11.6839 trillion KRW).

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