Daewoo clinches orders worth $800 million

Daewoo Shipbuilding and Marine Engineering (DSME) has clinched orders for six vessels, including four LNG carriers, worth a combined $800 million. The orders include three 150,000 cubic metre LNG carriers for Teekay Shipping of Canada and one 146,000 cubic metre gas carrier for Sovcomflot from Russia.

The LNG carriers for Teekay are slated for completion by mid-2007 and will be chartered to Ras Laffan Liquefied Natural Gas, or RasGas II, a joint venture between Exxon Mobil, the world’s biggest oil company, and Qatar Petroleum. Ship particulars are 288.20m long and 43.4m wide with a depth of 26m. The Russian contract includes one option and the newbuilding is destined for the Sakhalin project.

With this new order, the shipbuilder will build seven of the eight LNG carriers for RasGas II to transport LNG from Qatar to Europe and the United States. DSME now has 26 standing orders for LNG carriers, the largest among shipbuilders worldwide. The other two vessels ordered were oil tankers. Lundqvist Rederierna AB from Finland ordered a 115,000DWT tanker and Sonangol in Angola ordered a 159,000DWT tanker.