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DSME wins $394.1 mn order to build a FSRU and a LNG carrier

2017.12.07 15:51:31 | 2017.12.07 15:51:52
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South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (DSME) won a combined 430.5 billion won ($394.1 million) deal to build a floating storage regasification unit (FSRU) and a liquefied natural gas (LNG) carrier for Greek shipping company.

DSME announced in a regulatory filing on Thursday that it signed a contract with Maran Gas Maritime, bulk tanker affiliated to Greek shipping giant Angelicoussis Shipping Group to build one FSRU and one LNG carrier. The deal is worth 430.5 billion won.

The company said it is the second deal that it has secured this week. On Monday, it inked an agreement to construct a very large crude oil carrier for another Greek shipping firm Aeolos Management.

The two contracts for building three tankers are worth nearly $480 million in total.

DSME’s all three carriers will be environmentally friendly, meeting International Maritime Organization’s standards, and be equipped with high-efficiency engines and latest fuel-saving technologies.

Angelicoussis Shipping Group has placed orders with DSME to build a total of 9 ships this year alone. Its orders are equivalent to 36 percent of its order book so far this year.

This year, DSME has signed contracts to build a total of 25 ships, worth nearly $2.94 billion. It is close to a double last year’s record of $1.55 billion.

Separately, the company on Nov. 24 announced that it decided to issue 2,022,675 new shares worth about 81.6 billion won. It plans to list the new shares on Jan. 9, 2018 and use the proceeds to improve financial health.

DSME shares finished Thursday at 17,700 won, unchanged from the previous session

By Woo Je-yoon and Cho Jeehyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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