Daewoo clinches tanker quintet

Sonangol has ordered three LNG carriers and five oil tankers as well as 12 maritime plants from Daewoo since it placed its first order with the company in 1995. The latest deal represents one of the few bright spots for Korean shipbuilders this year.

According to Clarkson, the number of ships ordered around the world in January totalled 34, a sharp drop from 72 in December. Additionally, some companies have axed large orders because of the downturn. Hanjin Heavy Industries recently said CMA CGM failed to complete the purchase of one of four container ships it ordered in a deal cemented in August 2006, wiping out roughly 116 billion won in potential revenue.

Furthermore, Lloyd Fonds AG, a German financial company, recently cancelled orders with Hanjin from 2007 for two container ships worth $315 million. The orders, part of an eight-vessel order, were going to be built in Hanjin’s shipyard in Subic Bay, the Philippines.

Neither Hyundai nor Samsung have won any orders for new ships so far this year.