Daewoo Shipbuilding & Marine Engineering, 'Pangpar' with Greek Friend... Record-High LNG Carrier Order

Angelicussis Group Places World-Record Order of 121 Ships with Daewoo Shipbuilding
This Time 2 Ships for 700 Billion Won... "Last Year 38 Ships Ordered, Strong Performance Continues This Year"

Daewoo Shipbuilding & Marine Engineering (DSME) has secured an order for two liquefied natural gas (LNG) carriers worth 700 billion KRW from a Greek company with which it has traded over 100 vessels since the beginning of the year.

On the 14th, DSME announced that it had received an order worth 679.4 billion KRW for two LNG carriers from Marangas, a subsidiary of Angelicoussis Group, the largest shipping company in Greece. The ships will be built at the Okpo Shipyard and are scheduled to be delivered to the shipowner in the first half of 2027.

Dual-fuel LNG carrier built by Daewoo Shipbuilding & Marine Engineering [Photo by Daewoo Shipbuilding & Marine Engineering]

DSME signed its first contract with Angelicoussis Group in 1994. The Angelicoussis Group has ordered a total of 121 vessels from DSME to date. Since 2021 alone, they have entrusted DSME with the construction of 11 vessels. This is the world record for the highest number of orders between a single shipowner and a shipbuilder.

In October last year, DSME received a special donation of 2 million USD (approximately 2.6 billion KRW) from the late Greek shipping magnate and former chairman John Angelicoussis.

A DSME official stated, "Last year, we set the world record for the most LNG carriers ordered by a single shipyard with 38 vessels, and we will continue this momentum this year. We will do our best to secure orders and improve profitability based on our overwhelming technological capabilities."