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).

Daewoo Shipbuilding wins US$365mln order for the construction of four 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.

Source: Yonhap