Daewoo shipbuilder wins $400 million deal for large carriers

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Daewoo shipbuilder wins $400 million deal for large carriers

Daewoo Shipbuilding & Marine Engineering (DSME) said that it had secured a $400 million contract to build four very large crude oil carriers (VLCC) for Maran Tankers Management, an affiliate of Greece’s largest shipping company Angelicoussis Group.

DSME said that its CEO Ko Jae-ho signed the contract with Chairman John Angelicoussis in Athens on Wednesday. The VLCCs will be built at Okpo Shipyard in Geoje, South Gyeongsang, and will be delivered to Greece in 2016.

DSME said that the contract was made possible thanks to the two companies’ strong partnership. Since 1994, Angelicoussis Group has ordered more than 60 vessels, worth about $5.8 billion, from DSME.

Ko, who was the regional manager for the company in London in 1994, has maintained close contacts with officials of the group.

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