Daewoo Shipbuilding & Marine Engineering (DSME)

Daewoo Shipbuilding & Marine Engineering (DSME)



 South Korea






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Daewoo Shipbuilding wins 16 LNG carriers tender for Yamal LNG project
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has won in a tendering process and was awarded the contract for 16 ARC7-class LNG tankers for NOVATEK-led Yamal LNG project, ITAR-TASS reported. There were 7 bidders participating in the tender. JSC Yamal LNG and DSME signed an agreement for the construction, launching, equipment supply, outfitting and delivery of up to 16 tankers. The agreement terms establish the preliminary cost / schedule of completion and delivery. The agreement also provides for transfer of rights to finance the newbuilds construction to third parties, those picked by JSC Yamal LNG. Under the agreement, the South Korean shipyard is also committed to hand over to a Russian shipyard the necessary knowledge for construction of gas carriers, including the transfer of design and other technical documentation, training of Russian engineers and workers and subcontracting local shipbuilders to execute part of the contract. ARC7 LNG tankers are designed for year-round transportation of liquefied natural gas produced in the "Yamal LNG" project, to operate in the severe Arctic conditions (-50º C) with ice thickness of more than 2.1 meters. The cost of one LNG carrier is estimated at $ 220-230 million, thus the total project cost will make up nearly $ 3.5 billion, the Russian news agency said.

Daewoo Shipbuilding wins US$411m order for two LNG carriers
Daewoo Shipbuilding & Marine Engineering Co Ltd said on Monday it had won a 469.6 billion Korean won (S$522 million) order to build two liquefied natural gas (LNG) carriers from Angelicoussis Shipping Group Ltd. The South Korean shipbuilder said in a statement the vessels are slated to be completed by the second half of 2016, and operated by Maran Gas Maritime Inc, a gas shipping unit of Angelicoussis Group. Source : Reuters

DSME to construct two LNG carriers for Teekay
Seoul: Daewoo Shipbuilding & Marine Engineering (DSME) penned an agreement to build two 173,400 cubic meter LNG carriers with options for three more units for Teekay LNG Partners.

DSME bags $3bn four drillship order from Transocean
As SeaTradeAsia reports, Daewoo Shipbuilding & Marine Engineering (DSME) bagged a bumper $3bn order to build four new ultra-deepwater drillships for US-based Transocean. DSME's facility in Okpo, South Korea will deliver the first unit in mid-2015 and the remaining three drillships will be delivered from the shipyard at approximately six-month intervals thereafter. The four drillships are designed to operate in water depths of up to 12,000 feet and drill wells to 40,000 feet. Transocean has inked a 10-year contract to charter the four drillships to oil major Shell.

Daewoo wins US$770m order from Petronas
South Korea’s Daewoo Shipbuilding & Marine Engineering said its consortium with French oil and gas group Technip SA had an order worth 910 billion won (US$771 million) to build an liquefied natural gas (LNG) Floating Production Storage and Offloading (FPSO) vessel for Malaysia’s Petroliam Nasional Berhad (PETRONAS). Daewoo said it planned to deliver the vessel by June 2015. - Reuters Read more: Daewoo wins US$770m order from Petronas www.btimes.com.my...

Daewoo Wins $560 Mln. Order For Offshore Platform
(RTTNews) - South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a $560-million deal to build a part of an offshore oil platform for a Danish firm. Under the contract with Dong E&P A/S of Denmark, DSME will deliver the topside of the platform by April 2014, the company said in a statement in Seoul on Tuesday. More at www.rttnews.com/1...

Daewoo to build four UK Royal Navy fuel tanker worth £452m
The Royal Navy has chosen South Korean firm Daewoo for a £452m deal to build four new fuel tankers, BBC reports. The 37,000-tonne Military Afloat Reach and Sustainability (MARS) tankers will allow the Royal Navy to refuel at sea. UK firms took part in the tender, but the Ministry of Defence (MoD) said none made a final bid to take part. Shadow defence secretary Jim Murphy said the move was "more bad news for British industry" while the GMB union said it was angered by the decision. Keith Hazlewood, GMB national secretary, said: "Once again UK taxpayers' money is being spent abroad on ships which are vital for the Royal Navy to defend our shores. "A proactive UK government could have put a consortium together to build these tankers in the UK." British design Despite being built in Korea, the UK has won £150m of associated contracts to assist the project.

Daewoo wins $560 mln VLCC order from Kuwait
South Korea's Daewoo Shipbuilding & Marine Engineering said Tuesday it had received an around $560 million order to build four very large crude carriers (VLCC) and one product carrier from the Middle East. Kuwait Oil Tanker Co (KOTC) inked a contract with Daewoo to build five new tankers, state news agency KUNA reported earlier.

Daewoo aims for $11 billion new shipbuilding orders in 2012
South Korea's Daewoo Shipbuilding & Marine Engineering (042660.KS), the world's No.2 shipbuilder, is aiming for around $11 billion in new orders next year, the same as it initially forecast for 2011, despite a credit crunch that has seen orders cancelled, Reuters reports. Chief Executive Officer Nam Sang-tae told reporters that the shipbuilder would spend 500 billion won ($434.71 million) in facilities and new hires in 2012, in comments that were confirmed by the company's press officer. "The commercial ship business will be better from 2013," Nam said, according to his press official. Nam believes that 70-80 percent of orders in 2012 would be for offshore vessels such as drillships. Nam also said Daewoo exceeded this year's orders target of $11 billion, taking in around $14.8 billion. ($1 = 1150.2000 Korean won)

Daewoo Shipbuilding says European client cancels order worth $520.8 million
Daewoo Shipbuilding & Marine Engineering said on Friday that a European customer called off a 589.3 billion Korean won ($520.8 million) ship order, making it the first cancellation of an order to the major shipbuilder this year, Reuters reports. The South Korean shipbuilder said in a regulatory filing that two VLCCs and two bulk carriers, which were ordered in 2008, were annulled because its client failed to honour payables. It did not identify the shipping company. Industry officials say global shipping firms will cancel or delay orders due to the lack of credit amid Europe's debt woes. South Korea's major shipbuilders have received requests to delay deliveries of 24 ships worth some $3 billion as the debt crisis in Europe bites, raising fears about a repeat of the 2008 downturn that hit the industry globally. South Korea is home to the world's biggest shipbuilders including Daewoo and Hyundai Heavy Industries.

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