Aju Business Daily

SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has clinched an order worth 337.1 billion won ($283.6 million) to build two eco-friendly shuttle tankers for Norway's Knutsen shipping group. It was the shipbuilder's first order this year

Daewoo Shipbuilding & Marine Engineering (DSME) said Friday in a regulatory filing that two 124,000 deadweight ton (DWT) shuttle tankers installed with liquefied natural gas propulsion equipment would be delivered by August 2022. DSME has set a goal of winning 7.21 billion in total orders this year.

A shuttle tanker is a ship designed for oil transport from an off-shore oil field as an alternative to constructing oil pipelines. It is equipped with off-loading equipment compatible with the oil field in question.

DSME said Knutsen's shuttle tankers would have a facility to compress and store volatile organic compounds (VOCs) for use as secondary fuel. The shipbuilder would also apply an automatic position control system to enhance safety. In 2010, Knutsen OAS Shipping acquired four LNG carriers from DSME, all with dual-fuel engines.