Daewoo Shipbuilding wins US$400 mln deal for 2 LNG carriers

Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Wednesday that it has won a US$400 million deal to build two liquefied natural gas (LNG) carriers.

Under the deal with Stena Bulk of Sweden, Daewoo Shipbuilding will deliver the vessels with a capacity of 170,000 cubic meters of LNG by the end of 2014, the company said in a regulatory filing.
Early this week, the shipbuilder also won $1.95 billion worth of orders to build an offshore platform and a drill ship.
The company has won deals valued at nearly $12.5 billion so far this year to build 46 ships, exceeding its yearly order target of $10 billion.
Shares of Daewoo Shipbuilding were trading at 25,600 won on the Seoul bourse as of 1:15 p.m., remaining flat from the previous session's close.