Daewoo inks Exmar VLGCs

Daewoo Shipbuilding in South Korea has secured a contract for two 84,000 cbm LPG carriers from the Belgian shipowner Exmar for delivery during fourth quarter 2007 and first quarter 2008. No price has been revealed but industry sources suggest $92 million each.

DSME announced that its turnover for the first quarter this year was earnings Meanwhile, Daewoo Shipbuilding announces that it earned $1,039 million compared to $1,165 million during the same period last year. Operating profit is also reduced to the loss of $151 million compared with a profit of $72 million. However, the shipbuilder said that it achieved a net profit of $19.4 million during March this year.