South Korea’s second-biggest shipbuilder Daewoo Shipbuilding & Marine Engineering Co. won an order to build a liquefied natural gas floating storage and regasification unit (LNG-FSRU) from Maran Gas Maritime Inc., a subsidiary of Greece’s largest shipper Angelicoussis Shipping Group, the 100th order from the group.

John Angelicoussis (left), chairman of Angelicoussis Shipping Group and Jung Sung-leep, CEO & president of DSME are shaking hands after signing a contract to build an LNG-FSRU in Greece on Tuesday (local time). [Photo provided by Daewoo Shipbuilding & Marine Engineering Co.]

The company said Wednesday that it will construct the 173,400-cubic-meter LNG-FSRU that is 295 meters long and 26 meters wide at its Okpo shipyard in Geoje, South Gyeongsang Province. The vessel is scheduled to be delivered in the first half of 2021.

Although the shipbuilder did not disclose the value of the deal, industry watchers estimated it would be worth 230 billion won ($206 million) to 250 billion won.

Angelicoussis has ordered total 100 vessels to DSME worth a combined $11 billion since its first order of 98,000-ton crude carrier in 1994. Among them, 82 have been shipped and the rest 18 are being built at Okpo shipyard. “The constant orders from the shipping group means that it has a full confidence in our technology,” an official from DSME said.

DSME has received 65 orders from Singapore’s BW and 55 from Denmark’s Maersk. It said Wednesday that it has won orders of 27 vessels worth $3.4 billion since the beginning of the year including 11 units of LNG carriers, 15 units of very large crude oil carriers and one special vessel, amounting to 47 percent of its target for this year of $7.3 billion.

Shares of DSME finished Wednesday 0.2 percent lower at 25,300 won.

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