Thursday, December 19, 2013

Daewoo Shipbuilding Wins $500 Million VLCC Order

Daewoo Shipbuilding & Marine Engineering announced Dec. 16 that it has won a $500 million contract to build five very large crude carriers (VLCCs) for the US division of Scorpio Tankers, with delivery slated for the first half of 2016.

South Korea-based Daewoo said in a statement that the tankers are expected to carry about 300,000 tons per vessel and have dimensions of about 1,100 feet in length and 197 feet in width. The ships are designed to be equipped with high-efficiency engines and state-of-the-art technology in order to improve fuel efficiency.

Daewoo, the second-largest shipbuilder in the world, says this is its first VLCC order in about 23 months, since January 2012.

Scorpio Tankers, which has locations in the US and Monaco, is a provider of marine transportation of petroleum products worldwide. It owns 19 tankers and time charters in 29 product tankers.
The company says it has contracted for 65 new vessels in recent years, of which 45 are expected to be delivered in 2014.