Go to contents

Daewoo Shipbuilding wins contract to build two VLGCs in 4 years

Daewoo Shipbuilding wins contract to build two VLGCs in 4 years

Posted December. 18, 2019 07:37,   

Updated December. 18, 2019 07:37


Daewoo Shipbuilding & Marine Engineering Co. announced Tuesday that it has secured a 190-billion-won order to build two liquefied petroleum gas (LPG) carriers for Avance Gas Holding Ltd. This is the first time in four years that the South Korean shipbuilder has won a contract to build LPC carriers.

Daewoo Shipbuilding will construct two very large gas carriers (VLGCs), each with a capacity of 91,000 cubic meters, at its Okpo shipyard in Geoje City, South Gyeongsang Province, and deliver them to the Bermuda-based company by the first quarter of 2022. They will apply the state of the art technology to reduce fuel costs in building the two dual-fuel carriers.

The world’s second-largest shipbuilder by orders has won orders worth 6.11 billion dollars for 33 vessels so far this year, including the two VLGCs for Avance Gas, 10 LNG carriers, 10 very large crude-oil carriers, five ultra large container vessels, five submarines, and an offshore plant. Having won these contracts, Daewoo Shipbuilding has achieved around 73 percent of its annual target of 8.37 billion dollars. “We will make continuous efforts to win more contracts by the end of the year,” an official from the shipbuilder said.