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DSME off to a good start in 2019 with $366 mn orders for 4 VLCCs


South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) has clinched a 409.5 billion ($366 million) order to build four units of very large crude carriers (VLCCs) from an unidentified shipper in the Oceanian region, the company announced in a regulatory filing on Monday.

The delivery will be completed by the end of February 2021, it added.

The company’s first order for this year comes at a time when it is working to win $1 billion procurement for three submarines from Indonesia’s Defense Ministry. The contract will be awarded in January or February.

The company this year targets about $8 billion worth of orders, about 10 percent higher than last year’s achievement of $6.81 billion with focus on valued-added VLCC, LNG carriers, and special vehicles. Specific target will be announced next month’s board meeting.

By Kang Gye-man and Lee Ha-yeon/Maeil News Korea