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Daewoo Shipbuilding wins deal for five container ships

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LNG Industry,

Korea’s major shipyard Daewoo Shipbuilding & Marine Engineering Co., has clinched a US$818 million deal to build five container vessels.

In a regulatory filing, Daewoo Shipbuilding said it will deliver the vessels by March 15, 2020.

The shipbuilder did not reveal the name of the buyer.

Daewoo Shipbuilding said the deal includes an option, but fell short of providing further details.

With the latest deal, Daewoo Shipbuilding has secured deals valued at $2.57 billion to build 23 ships, which is equivalent to 56.2% of its annual order target of $4.57 billion.

Industry sources said the buyer of the ships may be MSC, the world's second-largest shipping firm.

An earlier report has said that two South Korean shipbuilders (Samsung Heavy Industries Co. and Daewoo Shipbuilding) are expected to win a combined US$1.5 billion in deals.

MSC is close to a deal with Samsung Heavy for up to six 22 000 - TEU vessels and is expected to turn to Daewoo Shipbuilding for a further five, the report said.

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