BW Group Orders Two VLCCs from DSME

Oil and gas transporter BW Group has ordered two oil tankers at South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (DSME), the company confirmed to World Maritime News.

“Some of our VLCCs have spent many years at sea, and this latest purchase is part of our regular fleet renewal program,” a representative from BW Group said.

Under the contract, which is reportedly worth KRW 200 billion (USD 180.4 million), the shipbuilder will construct two 318,000-ton Very Large Crude Carriers (VLCCs) for the company.

The new vessels are scheduled for delivery to their owner by 2018.

The announcement comes only a few days after DSME received a contract termination for one fixed oil production platform worth KRW 1.58 trillion (USD 1.42 billion).

According to the company’s stock exchange filing, the order was placed in 2013 by a European shipowner.

DSME added that the termination is not expected to have an effect of its balance sheet as no cost has been incurred.

World Maritime News Staff

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