Daewoo Shipbuilding wins US$818 million deal for 5 container ships

By Curious

Korea’s major shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME), said earlier today that it has clinched a 927 billion won (US$818 million) deal to build five container vessels.

In a regulatory filing, Daewoo Shipbuilding said it will deliver the vessels by March 15, 2020.

The shipbuilder did not reveal the name of the buyer.

Daewoo Shipbuilding wins US$818 million deal for 5 container ships

Daewoo Shipbuilding said the deal includes an option, but fell short of providing further details.

With the latest deal, Daewoo Shipbuilding has secured deals valued at $2.57 billion to build 23 ships, which is equivalent to 56.2 percent of its annual order target of $4.57 billion.

Industry sources said the buyer of the ships may be MSC, the world's second-largest shipping firm.

An earlier report has said that two South Korean shipbuilders -- Samsung Heavy Industries Co. and Daewoo Shipbuilding -- are expected to win a combined US$1.5 billion in deals.

MSC is close to a deal with Samsung Heavy for up to six 22,000-TEU vessels and is expected to turn to Daewoo Shipbuilding for a further five, the report said.

Source: Yonhap