Daewoo Secures $252m Contract For One LNG Carrier

South Korean shipbuilder, Daewoo Shipbuilding & Marine Engineering (DSME) has secures contract to build one liquefied natural gas (LNG) carrier.

The contract, worth $252 million, was signed with an undisclosed shipowner from Oceania on 7 October, DSME said in a stock exchange filing. 

The vessel is scheduled for delivery by 14 December 2026. 

World Maritime News reports that no further details on the vessels have been disclosed. 

Last month, the shipbuilder signed contracts for two LNG carriers for an undisclosed American shipowner and six more LNG carriers for European and Asian shipping companies. 

The South Korean company has surpassed its yearly target of $8.9 billion worth of orders, according to Yonhap.

The orderbook backlog is predominantly driven by LNG demand pushing LNG carrier tally at DSME to a total of 37 construction projects secured this year. 

The LNG bonanza comes at a critical time for the shipyard. Namely, in September DSME signed a tentative takeover deal with compatriot conglomerate Hanwha Group. 

The deal has now been cleared as no other bids were submitted and the stalking-horse bidding process closed on October 17th, DSME said. 

A final contract is expected to be signed after a six-week due diligence process. Once the deal is finalized, KDB will retain 28.2 percent stake in the shipbuilder.