DSME scratches off contract for one LNG Carrier again due to non-payment
Daewoo Shipbuilding & Marine Engineering announced on June 30 that it has canceled a contract for an LNG carrier under construction as the European shipowner failed to make the interim payment within the due date.
Industry insiders believe that the vessel is an icebreaking LNG carrier to be used in Russia, and the shipowner probably could not pay due to the financial sanctions imposed on Russia.
Accordingly, the total contract amount fell from 675.8 billion won to 337.9 billion won. The contract was originally worth 1,137 billion won for three LNG carriers. But on May 18, the client did not make an interim payment, so the contract for the first of the three vessels was scratched off, and the number was reduced to two.
Source: BusinessKorea
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