Daewoo Shipbuilding wins 339bn won order from Russia

March 17, 2014 - 11:02:46 am

SEOUL: South Korea's Daewoo Shipbuilding and Marine Engineering Co. said Monday that it has obtained a 339.3 billion won about or US$367.4 million order to build an icebreaking LNG carrier from Russia's state-run shipper Sovcomflot, the world's first order for such a vessel. 

The South Korean company said it will deliver the vessel by the end of June 2016, according to South Korea's Yonhap News Agency.

The carrier will be used in developing a gas field in the Yamal Peninsula, western part of Siberia, by a joint venture among Russian, French and Chinese firms, Daewoo Shipbuilding said. 

It is the first of the 16 icebreaking LNG carriers Daewoo has signed a contract to provide, making the total project worth some $5 billion, according to the company.

Daewoo Shipbuilding already signed in July last year what is called a slot reservation agreement, which reserves docks for future vessel construction. 

It previously succeeded in building a carrier that would survive extreme temperatures of as low as minus 52 degrees. 

With the latest order, the shipbuilder has won orders for 15 vessels worth $1.74 billion so far this year. (QNA)