Smooth Sailing for DSME

South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) has seen a healthy order intake in the previous month, putting DSME’s 2014 secured orders value at approximately 5.8 billion USD.

DSME’s figures back the estimates that South Korean shipbuilding is entering the recovery mode after it lost its top spot to Chinese rivals.

USD 5.8 Bln

in new orders

According to Clarkson’s data cited by Yonhap, South Korean shipbuilders reclaimed their top position after five months as the number of new orders for local shipyards jumped 3.6 times on-month to 33 ships totaling 1.4 million compensated gross tons (CGTs) in July.

On the other hand, Chinese counterparts are not likely to give up the number one place without a fight. With the support from the government, China’s shipbuilding industry swept the global market in the first half of 2014.

Based on data issued by Clarkson Research in July, Chinese shipbuilders won 900,000 CGT, or 47.7 percent in total, in new orders claiming the top position in the month of June, followed by Japanese shipyards in the second place and the Korean builders in third.

However, the tables may be turning as DSME bags new orders. Last month DSME inked new orders for nine Arc 7 icebreaking LNG carriers.

DSME received six LNG carrier orders from Teekay & CLNG, a joint venture between Canada’s Teekay and China’s CLNG, and the remaining three orders are with MOL & CSLNG, a joint venture between Japan’s MOL and China’s CSLNG.

This vessel is the first icebreaking LNG carrier. It is able to load 170,000㎥ of LNG and is capable of breaking 2.1 meters thick ice which is commonly found in the Arctic Ocean.

DSME won an additional order for four Very Large Crude Oil Carriers (VLCC) on the 30th of July.

The value of the contract is approximately 400 million USD and Maran Tankers Management will be operating and managing the vessels.

This vessel is equipped with DSME’s latest eco-ship design which features such advancements as a high efficiency engine and fuel saving technologies. The two companies also agreed to build additional vessels which will be propelled by LNG.

World Maritime News Staff, August 14, 2014

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