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April 12, 2017

Deals this week: Daewoo Shipbuilding & Marine Engineering, Mitsui OSK Lines, Lloyd’s Register

Daewoo Shipbuilding & Marine Engineering (DSME) intends to build five 300,000t very large crude carriers (VLCCs) for the South Korean shipping group Hyundai Merchant Marine (HMM), according to a newly signed letter of intent (LoI).

Daewoo Shipbuilding & Marine Engineering (DSME) intends to build five 300,000t very large crude carriers (VLCCs) for the South Korean shipping group Hyundai Merchant Marine (HMM), according to a newly signed letter of intent (LoI).

The vessels will be the first ships to be developed as part of the Korean government’s new KRW2.6tr ($2.28bn) shipbuilding programme.

HMM aims to strengthen the competitiveness of its fleet in the medium and long-run via the programme.

The deal is expected to be finalised by the end of July, and includes an option for five more vessels.

DNV GL has granted approval in principle (AIP) to Japan’s Mitsui OSK Lines (MOL) and Samsung Heavy Industries (SHI) for the design of four 20,000 twenty-foot equivalent unit (TEU) liquefied natural gas (LNG) fuelled container ships.

"DNV GL has granted approval in principle to Japan’s Mitsui OSK Lines and Samsung Heavy Industries for the design of four LNG-fuelled container ships."

The approval was granted following the successful completion of a hazard identification workshop, which focussed on the vessel's fuel gas supply system (FGSS) and LNG bunkering operations.

The new LNG ship design includes a retrofit plan for vessels already in service, and also features an LNG fuel tank layout and design for ultra-large container ships (ULCS).

Lloyd's Register has announced a partnership with Woodside Energy, Anangel Maritime Services, Hyundai Heavy Industries and the General Electric Company in order to begin a collaborative ship designing project, which will aim to develop next-generation liquefied natural gas (LNG) fuelled propulsion systems for very large ore carrier (VLOC) vessels.

Lloyd’s Register is a maritime classification society based in the UK.

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