South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for a very large crude oil carrier from compatriot shipping company Pan Ocean.
The order comes at a very challenging time for shipbuilding business and represents the fist oil tanker construction contract secured by DSME this year.
The 300,000 TDW VLCC will span 335 meters in length and it will be 60 meters wide. The shipbuilder said the newbuilding would be fitted with a scrubber as a means of complying with the IMO 2020 sulphur cap.
The ship is scheduled for delivery by the third quarter of 2021.
Commenting on the order, DSME said that due to the low oil prices, tanker orders are expected to pick up, adding that it is ready to take advantage of such a trend.
So far this year, DSME has won USD 400 million worth of orders covering three ships, two shuttle tankers and one VLCC.
To remind, back in February DSME penned a contract with Norwegian-based shipowner Knutsen NYK Offshore Tankers AS for the construction of two shuttle tankers.
The 870,000 bbls shuttle tankers are expected for delivery in the second half of 2022. The construction contract includes options for additional units.