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Daewoo Shipbuilding bags US$580 mln order

All News 17:13 June 09, 2016

SEOUL, June 9 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Thursday that it has clinched a US$580 million order to build four carriers for a Greek shipper.

Under the agreement with Maran Tankers Management, a unit of Greece's largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding plans to deliver two liquefied natural gas (LNG) carriers by 2019 and two very large crude carriers (VLCC) by 2017.

The latest deal will raise the number of ships delivered or to be delivered by the South Korean shipbuilder to the Greek company and its affiliates to a total of 89 since their first deal in 1994.

"I will make my best effort in normalizing the business as we have just clinched the deal," said Jung Sung-leep, president of Daewoo Shipbuilding, adding that he will make efforts to turn around his financially troubled company.

The latest deal was the largest one inked by a South Korean firm this year.
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