DSME reaches yearly target for second consecutive year with $1.29B order

Home > Business > Industry

DSME reaches yearly target for second consecutive year with $1.29B order

Published: 04 Oct. 2022, 15:37

A liquefied natural gas carrier built by Daewoo Shipbuilding & Marine Engineering [DAEWOO SHIPBUILDING & MARINE ENGINEERING]

Daewoo Shipbuilding & Marine Engineering (DSME) announced Tuesday that it received a 1.85-trillion-won ($1.29 billion) order for six liquefied natural gas (LNG) carriers, filling its targeted amount of orders for the year for two years in a row.

Of the six LNG carriers ordered Tuesday, four were from a European shipper while the other two were from a shipper in Asia.

The six LNG carriers will be delivered to the buyers by the second half of 2026.

Although DSME did not specify the shippers who made the order, it is believed to be related to an earlier deal with a company in Qatar, according to industry insiders.

Along with two other Korean shipbuilders — Hyundai Heavy Industries and Samsung Heavy Industries — DSME had signed to construct more than 100 LNG vessels through 2027 with Qatar Petroleum in June 2020. Qatar Petroleum, a state owned petroleum company, has since changed its name to QatarEnergy.

With this order, DSME has filled its yearly target of $8.9 billion, adding to an order list of 34 LNG carriers, six container ships and one offshore plant. This is the second consecutive year in which DSME has reached its yearly target.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]