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DSME inks $248m LNG carrier newbuild orderDSME inks $248m LNG carrier newbuild order

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has secured a contract to build an LNG carrier which represents its first order in 2023.

Michele Labrut, Americas Correspondent

February 15, 2023

1 Min Read
LNG carrier in Johor Strait near MMHE
LNG carrier in Johor Strait near MMHEPhoto: John Foreman

Under the contract worth around $248m, DSME will build the LNG carrier for an undisclosed shipowner.

According to an exchange filing, the vessel is scheduled for delivery by the end of March 2027. Further information about the carrier’s capacity and specifications was not revealed.

Last year, DSME exceeded its order target by 16%, winning $10.4bn (46 vessels) worth of orders. DSME and its compatriot shipbuilders secured the largest market share for high-value-added, eco-friendly vessel orders in 2022, bagging 58% of the total ordering tally for the year.

South Korea’s defense and energy conglomerate Hanwha Group is acquiring the shipbuilder which has been controlled by the state-run Korea Development Bank (KDB) for over 20 years, with several attempts made over that period to find a buyer falling through. Hanwha signed a $1.5bn agreement for the acquisition of a controlling stake in the shipbuilder in December 2022.

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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