News:Europe

Angelicoussis books four new VLCCs at DSME

Maran Tankers Management (MTM), subsidiary of Greece’s Angelicoussis Shipping Group, has booked four VLCCs at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).

The Korean shipbuilder announced on Friday that the new 318,000-dwt VLCCs will be designed to achieve fuel and energy efficiencies.

Financial details of the deal were not disclosed.

The latest contract is the second order from Angelicoussis Shipping Group for DSME this year. In April, it ordered three VLCCs of similar specifications as the ones from the latest order.

Last year, MTM also placed orders at DSME for two VLCCs and two LNG carriers with options.

DSME, which continues to struggle with repayment of debts amid the sluggish shipbuilding industry, has landed seven orders worth around $770m over the first half of 2017, reaching 76% of its target order of KRW2.71trn ($2.44bn) for this year.

Posted 14 July 2017

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Lee Hong Liang

Lee Hong Liang
Asia Correspondent, Seatrade Maritime

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