Daewoo Shipbuilding & Marine Engineering lands LNG Carrier orders worth KRW1.85tn

Daewoo Shipbuilding & Marine Engineering (DSME), which is to be sold off to Hanwha Group, has won orders for four liquefied natural gas (LNG) carriers, which were worth 1.85 trillion won altogether.

The company received orders for two LNG carriers each from clients in Asia and Europe. The carriers were known to be related with the Qatar LNG development project.

The price per unit is US$215 million, the same as the price for LNG carriers under construction since the beginning of 2022 as part of the Qatar project. However, the recent hike in the won-dollar exchange rate has pushed up won-denominated profits a great deal. Compared to the March won-dollar exchange rate (about 1,200 won per U.S. dollar), DSME will be able to earn an additional profit of about 50 billion won per ship.

Source: BusinessKorea