Daewoo Shipbuilding Signs 1.1 Trillion KRW Contract to Build Six Ultra-Large Container Ships

[Asia Economy Reporter Choi Dae-yeol] Daewoo Shipbuilding & Marine Engineering announced on the 21st that it has signed a contract to build six ultra-large container ships for 1.1225 trillion KRW.

This contract was made with a European shipowner and involves vessels fueled by liquefied natural gas (LNG). Considering that each ship costs nearly 200 billion KRW, they are estimated to be over 20,000 TEU (1 TEU is based on one 20ft container) class. The ships will be built at the company's Okpo Shipyard and are scheduled to be delivered to the shipowner by the end of 2024.

Following the order from Brazilian energy company Petrobras for one floating production, storage, and offloading (FPSO) unit worth 1.0948 trillion KRW, Daewoo Shipbuilding & Marine Engineering secured another trillion-KRW level contract within a week. Earlier this year, the company received orders for a total of 33 vessels worth 4.71 billion USD, including 11 ultra-large crude oil carriers, 10 container ships, 9 ultra-large liquefied petroleum gas (LPG) carriers, 1 LNG carrier, 1 large offshore wind turbine installation vessel (WTIV), and 1 FPSO. This accounts for 61.2% of this year's target of 7.7 billion USD.