Four Kuwait VLCCs for Daewoo

Daewoo Shipbuilding & Marine Engineering has won a deal to build four VLCCs for 743 billion won ($710 million) for Kuwait Oil Tanker Co. Delivery is scheduled to be completed by the end of 2012. So far this year, the shipbuilder has won orders valued at $11.61 billion to build 59 vessels, accounting for 66.3 % of its yearly target of $17.5 billion.