DSME wins first offshore plant contract since 2014

DSME wins first offshore plant contract since 2014

Daewoo Shipbuilding & Marine Engineering (DSME) is celebrating its first offshore plant order since 2014. The Korean yard has won a $200m order from Chevron to build a semi-submersible offshore platform capable of producing 75,000 barrels of crude per day in the Gulf of Mexico.

In the five years since DSME last won an offshore plant contract, the yard has been through the mill, laid low by an accounting scandal and a severe drop in orders. This year, rival Hyundai Heavy Industries moved to take over DSME, a merger that has come under heavy scrutiny in recent weeks by antimonopoly authorities across the world.

The Chevron deal takes DSME’s orders this year to $5.95bn.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    Peter
    December 18, 2019 at 4:06 pm

    Good luck to DSME.
    Interesting old photo of Daewoo ! Pre DSME circa 1999?