Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Monday that it has clinched a 410-billion won (US$365 million) deal to build four very large crude carriers (VLCCs).
Under the deal with an Oceanian shipper, Daewoo Shipbuilding will deliver the vessels by February 2021, the company said in a regulatory filing.
Daewoo Shipbuilding is aiming to win $8 billion worth of new orders this year, up 10 percent from last year's order target of $7.3 billion.
Last year, the shipyard clinched deals valued at $6.81 billion.
South Korean shipyards snatched up deals to build 34 VLCCs last year, accounting for 83 percent of the total placed around the globe for such ships.