alt
Posted : 2014-07-31 17:57
Updated : 2014-07-31 20:55

Daewoo Shipbuilding wins $400 million order from Greece


By Park Si-soo


Daewoo Shipbuilding & Marine Engineering (DSME), Korea's second-largest shipbuilder, said Thursday it has signed a $400 million deal to build four oil tankers for a Greek firm.

Under the deal with Maran Tankers Management, a unit of Greece's largest shipper Angelicoussis Group, Daewoo plans to deliver the tankers by 2016, the company said in a statement.

The two companies have also signed a separate contract with an option to change bunker-C oil-propelled engines of the tankers to liquefied natural gas-powered ones.

If the Greece shipper wants the engine change, the price of the oil carriers will be increased from the originally contracted price, a company official said.

With the latest deal, the shipbuilder has won a total of $5.8 billion in orders so far this year.

"For many years, Angelicoussis has placed a timely order with accurate prediction of market trends, which means that I think the global demand for new vessels will increase in the near future," Ko Jae-ho, DSME CEO, said in the statement.

  • 1. Former Korean actress a 'real-life Cinderella'
  • 2. 'Midnight Diner' serves up thorny social issues
  • 3. Flesh-eating fish caught in Gangwon
  • 4. Fans dash in for 'Running Man' stars
  • 5. 'Terminator' heroes shine on Korean TV
  • 6. Additional MERS case reported
  • 7. Japan admits forced labor in UNESCO heritage sites
  • 8. Korea, Japan in spat over Tokyo's UNESCO statement on forced labor
  • 9. Senior official found dead in China
  • 10. Lee pursues dream in Korea and on Broadway