DSME secures $380M order from Angelicoussis Shipping

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DSME secures $380M order from Angelicoussis Shipping

Daewoo Shipbuilding and Marine Engineering (DSME) said Monday it has secured a $380 million order from Greece’s Angelicoussis Shipping Group to build three vessels.

Under the deal, DSME will build a liquefied natural gas (LNG) carrier for Maran Gas Maritime and two very large crude carriers (VLCCs) for Maran Tankers Management.

Both Maran Gas Maritime and Maran Tankers Management are affiliates of Angelicoussis Shipping Group.

DSME said the LNG carrier with a capacity of 174,000 cubic meters will be delivered by the first quarter of 2022.

Two 318,000-ton VLCCs will be delivered from the third quarter of 2021, the company added.

Angelicoussis Shipping Group is one of the biggest customers of DSME, having placed orders for 110 vessels in total since 1994. For this year, 70 percent of LNG carrier orders secured by DSME are from Angelicoussis Shipping Group.

With the latest deal, DSME has won orders worth $5.7 billion for 30 vessels so far this year, achieving 69 percent of its annual target of $8.3 billion.

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