Two LPG carriers ordered at DSME

Two LPG carriers ordered at DSME

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has received an order for two large LPG carriers from an undisclosed Asian client. The value of the contract was not made public.

The 84,000-cbm vessels are due to be delivered by the end of 2017, and will each be 226 metres long, with beam of 36.6 metres.

The newbuildings’ specification exactly matches that of a four-vessel order placed with DSME in late 2014 by China Peace Petroleum Group at a price of $80m per vessel.

In early June, the newbuilding contracts were sold to BW LPG for $72.5m per vessel or $290m en bloc.

So far this year, DSME has received contracts worth a combined $3.9bn to build 27 ships.

Nevertheless, the yard has just suffered its worst-ever quarterly loss, posing an operating loss of KRW 3.07trn ($2.65bn) for its second-quarter this year. Some 13 senior executives have offered to resign following the result.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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