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FRSU order for Daewoo Shipping

LNG Industry,

Daewoo Shipbuilding & Marine Engineering (DSME) exceeded their annual sales goal in 2013 by winning orders for VLCCs, containerships, a frigate and a liquefied natural gas (LNG) Floating Storage Regasification Unit (FRSU).

World’s largest LNG-FSRU
DSME received an order for the world’s largest LNG FSRU from Japan-based MOL (Mitsui OSK Line) on 27th December 2013. This vessel can store 263 000 m3 of LNG and vaporize 10 million m3 of liquefied natural gas per day. DSME began developing LNG Regasification Vessels (RVs) in 2001 with Exmar, producing its first vessel in 2005. DSME has delivered eight LNG-RVs to date.

DSME and the Korea Defense Acquisition Program Administration signed a contract for a frigate on 30th December 2013.

Panamax containerships
DSME signed a contract for six 10 000 TEU (twenty-foot equivalent) Panamax containerships for Zodiac on 17th December 2013. These containerships will be able to load 10 000 containers and pass through the Panama Canal. The vessels are scheduled for delivery in the middle of 2016. The value of this contract is approximately US$ 540 million.

Eco-Friendly VLCCs
DSME received an order for five VLCCs (Very Large Crude Carriers) from US-based Scorpio Tankers on 16th December 2013. The value of this contract is approximately US$ 500 million and the vessels will be delivered in the first half of 2016. These vessels are able to load up to 300 000 tons of crude oil, and have highly efficient engines and fuel economy technology.

With these new orders, DSME has exceeded its 2013 sales target. This latest contract puts DSME’s 2013 secured orders at 57 vessels, offshore platforms, and special ships worth approximately US$ 13.6 billion.

Adapted from press release by Katie Woodward

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