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Daewoo Shipbuilding wins 2 tln won worth of orders for 6 ships

All News 16:09 October 12, 2020

By Nam Kwang-sik

SEOUL, Oct. 12 (Yonhap) -- South Korea's No. 2 shipbuilder, Daewoo Shipbuilding & Marine Engineering Co., said Monday that it has signed deals worth 2 trillion won (US$1.7 billion) to build six liquefied natural gas (LNG) carriers for two European companies.

Under the two separate deals, Daewoo Shipbuilding will deliver the vessels to the European companies by July and December 2023, respectively, the shipbuilder said in regulatory filings, without providing the names of the clients.

With the deals, Daewoo Shipbuilding has won orders worth about $3.3 billion for 13 vessels so far this year, achieving 46 percent of its annual order target of $7.21 billion.

Shares in Daewoo Shipbuilding edged up 0.82 percent to 24,500 won on Monday, roughly in line with the broader KOSPI's 0.49 percent gain.

This undated photo, released by South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering on Nov. 18, 2019, shows a liquefied natural gas carrier equipped with an air lubrication system, a method to reduce the resistance between the ship's hull and seawater using air bubbles. (Yonhap)


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