LNG

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering has won $4 billion in orders so far in 2022, including eight LNG carriers, six containerships, one offshore platform and one depot maintenance order.

DSME added that the six containerships ordered this year have a specification for dual-fuel capability.

The latest DSME orders included three LNG carriers for the Americas after the company previously said there had been two LNG carrier orders worth 521 billion South Korean won ($428M).

The yard has now added one more vessel for the order list from the Americas, taking the total for the region to 863.5Bln Korean won ($710M).

“These LNG ships will be built at the Okpo Shipyard and delivered to the owner by the end of 2025,” said DSME.

GasLog Ltd, the Greek LNG shipping company, has also ordered LNG carrier from DSME in 2022.

GasLog is currently expanding its fleet and has ordered four newbuild 174,000 cubic metres capacity vessels for delivery in 2024 and 2025.

DSME, which is the world’s fourth largest shipbuilder, had an order backlog of $10.86Bln because of increased demand for valued-added vessels, such as LNG carriers and very large containerships with dual-fuel propulsion.

The latest three LNG carrier orders for the Americas will be of 174,000 cubic metres capacity.

The yard added that they would also be equipped with the latest generation M-type Electronically Controlled, Gas Injection (ME-GI) propulsion system.

DSME said it was also fitting a more advanced re-liquefaction system.

“The yard’s other smart energy saving systems, such as the Shaft Generator Motor and their Lubrication System, are representative of eco-friendly new technologies that can improve fuel efficiency and reduce carbon-dioxide and sulfur-oxide emissions,” added the DSME statement.

Daewoo Shipbuilding and Marine Engineering said it received an order to build two liquefied natural gas carriers for Maran Gas of Greece as South Korean shipbuilding undergoes a revival led by LNG vessels and LNG-powered ships.

DSME said the LNG vessel orders were valued at 502 billion-won ($420 million) and were the latest in a growing stream of newbuilds.

The company said it would deliver the LNG carriers to Maran Gas Maritime, an affiliate of Greece's Angelicoussis Shipping Group, by November 2025.

DSME said the vessels would have capacity of 174,000 cubic metres capacity and GTT No. 96 GW membrane containment systems.

The company received another order earlier in December 2021 for four newbuilds on behalf of the Japanese shipowner Mitsui OSK Lines.

DSME added that its 2021 order book amounted to $10.86Bln and exceeded its target of $7.7Bln.

Korea Shipbuilding and Offshore Engineering Co. (KSOE), the world's biggest shipbuilder by order backlog, said it had a stellar 2021.

KSOE, whose affiliates include Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries, said it has 1.67 trillion won ($1.39Bln) worth of ship orders this week.

The orders included one for a Europe-based shipper to build six 15,000 20-foot equivalent unit (TEU) LNG-powered containerships.

“The container carriers will be gradually delivered to the client from the first half of 2024,” said KSOE.

In other deals, the company said it would build one LNG carrier for an Asian ship owner with the delivery scheduled in the second half of 2024.

It will also build three feeder container ships for an Oceanian client, with the delivery set in the second half of 2023.

KSOE said it aimed to win $17.5Bln worth of orders in 2022, higher than last year's target of $14.9Bln. In 2021,the company achieved $22.8Bln worth of orders.

South Korean shipbuilders have managed to overtake Chinese shipyards in the May index of orders, led by more liquefied natural gas carrier newbuild placements, while more LNG tanker orders continued to be received in June.

Lloyd’s Register, the UK maritime classification society, has approved a design by a South Korean shipyard for a mid-scale LNG carriers of 30,000 cubic metres capacity with prismatic IMO Type-B storage tank design.

Five South Korean shipping lines are making a pitch to Qatar to be the operators of the 60 new LNG carriers the Gulf state has said it needs to transport cargoes worldwide from the North Field gas expansion and construction of four new liquefaction Trains at Ras Laffan.

German marine engine maker MAN Energy Solutions, a supplier of propulsion for many of the world’s LNG-powered vessels as well as the most modern LNG carriers,
has signed a cooperation agreement with two South Korean companies.

MAN Energy said its accord with shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and the South Korean engine-maker HSD Engine, formerly the Doosan Engine Company, have signed a strategic agreement to cooperate in the computerized aspects of marine engine systems.

MAN Energy, whose main shipping solutions base is in Denmark, has a market-leading two-stroke, dual-fuel portfolio.

It recently confirmed landmark sales of more than 250 dual-fuel engines, all running on liquefied natural gas or other clean fuels such as liquefied petroleum gas or methanol.

Man Energy is best known in the LNG sector for its speciality power package in the electronically-controlled, gas-injection (MEGI) engine for LNG carriers and other vessels.

The signing of the Man Energy, DSME and HSD Engine digitization agreement took place in Copenhagen.

The three companies aim to cooperate in areas such as the programming of marine engine solution and auxiliary systems data, the collection and analysis of the data and the integration of it with smart-ship platforms and intelligent diagnostic solutions.

“MAN Energy is determined to drive the digital transition of the marine industry”, said Brian Ostergaard Sørensen, Head of Research and Development in the two-stroke business at MAN.

“We strongly believe that this transition can best be achieved through cooperation and collaboration including customers and providers across the industry,” added Sørensen.

“The agreement at hand is a step in this direction and brings together market leading expertise in the fields of shipbuilding and engine design, manufacturing and operation to explore options for a joint digital development in an important segment of the maritime market,” he stated.

MAN, based in Augsburg, Germany, is a subsidiary of the Volkswagen Group and its Man Energy Solutions unit was formerly known as MAN Diesel & Turbo and was rebranded a year ago.

“DSME is conducting R&D activities to combine digital technology to various fields in shipbuilding including collaboration with marine engine makers,” said DSME’s R&D division.

The Korean shipbuilder also emphasized the need for continuous innovation to enhance DSME’s technological leadership in shipping.

HSD said that through this strategic cooperation agreement, the Korean company would share its own service experiences with DSME and MAN Energy Solutions.

“Furthermore, we will also continue our role as a pioneer engine manufacturer in the field of smart ships in order to serve our customers a real-time monitoring service with remote support through the advanced engine diagnosis technology,” added HSD.

The Asian shipbuilding industry is heading for even tighter competition for orders to build vessels such as LNG carriers, oil tankers and container ships as two of the largest Chinese shipbuilding companies are examining a merger plan at the same time as two of the biggest South Korean shipyard operators are also advancing with a merger proposal.

Gaztransport and Technigaz (GTT), the French LNG maritime storage tank technology company, has signed a licensing agreement with Hyundai Mipo Dockyard (HMD) based in the port of Ulsan in South Korea.