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DSME secures 414 billion won deal to build LNG ships

Mar 03,2017
Daewoo Shipbuilding and Marine Engineering said Thursday that it has clinched a 414 billion won ($363 million) deal to build two liquefied natural gas carriers.

Under the deal with an unidentified customer, DSME will deliver the vessels by August 2019, the company said in a regulatory filing. The deal includes an option to build two more LNG ships, which will jack up the value of the deal to 830 billion won. The shipbuilding deal is DSME’s first contract of the year, which will help the shipbuilder repay part of its 440 billion won debt due in April.

Last month, DSME also signed a letter of intent with a U.S. firm to build up to seven floating storage and regasification units. YONHAP