Daewoo Shipbuilding lands record LNG carrier deal from Greece

Daewoo Shipbuilding & Marine Engineering Co., one of the world’s largest shipbuilders,  secured a $512 million contract to build two liquefied natural gas (LNG) carriers for Maran Gas Maritime Inc., a unit of Greece’s Angelicoussis Group.

The South Korean company said on Tuesday that each vessel will cost $256 million, the highest price ever for a 170,000-cubic-meter LNG carrier. The ships will be delivered to Maran Gas in the first half of 2027.

The deal marks the latest in a series of orders from Angelicoussis Group, which has been a loyal customer of DSME since 1994. The Greek shipping conglomerate has ordered 121 vessels from DSME so far, including 11 LNG carriers since last year.

Angelicoussis Group also showed its gratitude to DSME by donating $2 million in October in memory of its late chairman John Angelicoussis, who was known as Greece’s shipping tycoon.

DSME said it has achieved 11.5% of its annual order target of $6.9 billion by winning contracts for four vessels, including three LNG carriers and one offshore plant, this year.

Write to Seo-Woo Jang at suwu@hankyung.com