[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering has received a 200 billion won (US$179.2 million) order to build two oil tankers for Singapore’s BW Group, it announced on Aug. 1.

DSME will provide the oil and gas transporter two 318,000-ton Very Large Crude Carriers by 2018.

The BW Group has ordered a total of 63 ships from the South Korean shipbuilder and has received 53 so far. DSME has been struggling from liquidity crisis and the Singapore-based company has paid 30 percent upon signing the order as retaining fee, a rarity in the industry.

This is the 10th order DSME has won this year, and the total amount has crossed US$1 billion.

By Hwang You-mee ()