BW LNG has emerged as the mystery owner behind a deal with South Korean shipbuilder DSME for up to six LNG newbuildings worth a potential $1.11bn.
The shipowner confirmed to TradeWinds that it has contracted two firm 174,000-cbm units, hull nos. 2496 and 2497, for delivery in first half 2021.
DSME said today that it had secured two firm LNG orders worth $370m combined. Four options are attached, to be declared next year.
The orders bump up BW's LNG carrier fleet to 25 ships, including three floating storage and regasification units. The owner also has stakes in two additional newbuildings under construction in China.
DSME has so far this year added deals worth $5.64bn to build a total of 41 ships, including 14 LNG carriers and 16 VLCCs.
This represents 77% of its annual order target of $7.3bn.
The yard said there had been an improvement in orders as markets themselves improved, with LNG rates at record highs.
DSME's Okpo yard will build the new LNGCs, which will include a natural gas propulsion engine and a full reliquefaction system.
This will increase fuel efficiency by 30% or more compared to conventional LNG carriers.
An official at the yard said: "The situation has improved recently due to a surge in LNG carrier' freight rates, and this will be a great boost for DSME, which has the world's best LNG carrier shipbuilding technology.
"We will continue to develop technology continuously and keep the world's top technology competitiveness."
Hyundai Heavy Industries has also added four LNGCs from two different owners in recent days.
