South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it has clinched a 314.5 billion-won (US$246 million) order to build one liquefied natural gas (LNG) carrier for an Oceanian shipper, according to Yonhap.

DSME will deliver the vessel to the undisclosed shipping company by March 2027, the shipbuilder said in a regulatory filing.

It represents DSME’s first order this year.

Last year, DSME, the world’s No. 4 shipbuilder by order backlog, obtained orders to build 38 LNG carriers, the highest yearly tally in its history.

The shipbuilder, controlled by the state-run Korea Development Bank, is targeting to bag orders worth $6.98 billion for all of this year.

In December, Hanwha Group, South Korea’s No. 7 family-run conglomerate, signed a deal to take over the embattled shipbuilder, paving the way for a smooth privatization after multiple unsuccessful attempts.