BW signs LNG shipbuilding contract with DSME

BW has signed shipbuilding contracts with Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) for two Liquefied Natural Gas (LNG) carriers on 17 September 2014. The agreement with DSME includes options for additional vessels.

The two firm newbuildings will be delivered in late 2017 and early 2018 and have been specified to meet next generation LNG shipping requirements. The vessels will have the highest technical standards with a series of BW upgrades. They will feature DSME’s latest eco-ship design with MEGI propulsion. They will also be equipped with partial reliquefaction systems which ensure industry-leading low Boil off Rates (BOR).

Andreas Sohmen-Pao, BW Group CEO, says: “BW and DSME have a strong relationship spanning more than 30 years and over 50 vessels through our World-Wide Shipping and Bergesen heritage. We look forward to receiving high quality and technologically advanced newbuildings. With an expanding fleet of well-built and well-maintained vessels, BW will continue to strive for outstanding service to customers. We have strong ambitions in the LNG sector and these vessels will continue our steady growth in the sector.”

BW has been involved in LNG shipping since the early 1980s. BW’s LNG vessels enjoy both long-term and short-term contracts with customers. The newbuildings will bring BW’s LNG fleet size to 20, and total fleet size to 147.
Source: BW