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Daewoo Shipbuilding bags order for 2 large oil tankers

All Headlines 10:08 January 18, 2019

SEOUL, Jan. 18 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday that it has clinched a deal to build two very large crude carriers (VLCCs).

Under the deal with the Oman shipping firm OSC, Daewoo Shipbuilding will deliver the vessels by the end of 2020, the company said.

The deal has an option to build one more ship, according to the shipyard. But it did not reveal the value of the deal. The ship is 336 meters long and 60 meters wide.

Last year, the company won deals to build a total of 16 VLCCs.

So far this year, Daewoo Shipbuilding has clinched deals valued at US$550 million to build six VLCCs.

Daewoo Shipbuilding is aiming to win $8 billion worth of new orders in 2019, up 10 percent from last year's order target of $7.3 billion.

For the whole of 2018, the shipyard clinched deals valued at $6.81 billion.

South Korean shipyards won deals to build 34 VLCCs last year, accounting for 83 percent of the total placed around the globe for such vessels.

This photo shows a very large crude carrier (VLCC) built by Daewoo Shipbuilding & Marine Engineering Co. (Yonhap)


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