DSME Clinches 10 VLCC Orders in 2018

Daewoo Shipbuilding and Marine Engineering (DSME), one of the South Korean big three shipbuilders, has secured two more orders for very large crude carriers (VLCC).

Undisclosed American shipowner is said to be behind the contract, being signed in anticipation of oil exports growth in the U.S.

Under the terms of the deal, the duo, to be built at DSME’s Okpo shipyard in Geoje, is slated for delivery in the first quarter of 2020.

With the latest contract DSME has managed to collect 10 VLCC orders so far this year, the company said.

The Korean builder has been on a roll over the past few months, booking orders for high value-added vessels such as crude carriers, giant containerships and LNG carriers, which have driven the company’s financial recovery.

The latest contract comes in less than a week from Korea Line’s order for a VLCC pair at DSME, which also reported an additional VLCC order from an unidentified European shipowner last week.

The shipbuilder’s orderbook for this year stands at 19 ships, comprising eight LNG carriers, ten VLCC and one special-purpose vessel, totaling in USD 2.36 billion.

World Maritime News Staff; Image Courtesy: DSME