Daewoo Shipbuilding and Marine Engineering Company (DSME) Company News

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Valaris Clears Bankruptcy Hurdle
Thursday, March 04, 2021The U.S. Bankruptcy Court for the Southern District of Texas has approved Valaris' Chapter 11 prearranged reorganization plan.

Daewoo Wins $748MM FLNG Contract With Novatek
Wednesday, June 10, 2020The firm expects to deliver the two vessels by the end of next year.

Qatar Petroleum Signs Landmark LNG Deals
Tuesday, June 02, 2020Saad Sherida Al-Kaabi, Qatar's minister of state for energy affairs and QP's president and CEO, has signed three LNG ship construction agreements. SOURCE: Qatar Petroleum

Eni to Charter New LNG-fueled Tankers
Tuesday, February 11, 2020Knutsen NYK Offshore Tankers has won a contract to build two LNG-fueled shuttle tankers for Eni.

World's Top Two Shipyards Signal More Orders as Earnings Improve
Thursday, April 27, 2017The world's two biggest shipbuilders reported profit and issued an improved outlook.

Daewoo Shipbuilding's Bailout Plan Cleared by Pension Fund
Monday, April 17, 2017Daewoo Shipbuilding wins a reprieve, helping avert a payment crisis that had threatened to almost shut the company.

After 20,000 Job Cuts, World's Top Shipyards Brace for More
Wednesday, October 26, 2016South Korea's shipbuilding industry - home to the world's top three manufacturers - has eliminated more than 20,000 jobs this year.

South Korean Yards Restructure, Trim Workforce
Thursday, September 08, 2016While Southeast Asian offshore contractors struggle to cope with the effects of the industry downturn, their more established competitors in South Korea have to embark on more severe measures to stay afloat.

DSME Delivers Newbuild Ultra Deepwater Drillship to Transocean
Friday, August 26, 2016South Korea's Daewoo Shipbuilding & Marine Engineering delivers an ultra deepwater drillship, possibly Deepwater Conqueror, to Transocean.

World's Top Three Shipyards Seek To Raise $7.3B In Revamp
Wednesday, June 08, 2016The world's three biggest shipyards plan to raise a combined $7.3 billion selling assets and cutting jobs as they seek to pare debt as part of a restructuring following losses last year.

PETRONAS' PLNG SATU Heads to Malaysia's Kanowit Gas Field Off Sarawak
Wednesday, May 18, 2016PETRONAS' first floating liquefied natural gas facility PLNG SATU heads for Kanowit gas field offshore Sarawak, Malaysia from Daewoo Shipbuilding & Marine Engineering Co.'s Okpo yard in South Korea.

DONG Energy Terminates Hejre Project EPC Contract
Tuesday, March 29, 2016DONG Energy terminates the EPC contract for the Hejre project with immediate effect, after the company claimed the supplier consortium failed to meet its contractual commitments.

Daewoo Shipbuilding Says Worst Is Over, Sees Profit This Quarter
Thursday, March 10, 2016Daewoo Shipbuilding & Marine Engineering Co. says the worst is over for the company and it expects to post an operating profit this quarter after a record loss for 2015.

PETRONAS Names PFLNG SATU in Ceremony at DSME's Okpo Yard in South Korea
Monday, March 07, 2016PETRONAS names its first floating liquefied natural gas facility PFLNG SATU at Daewoo Shipbuilding & Marine Engineering Co.'s yard in South Korea.

Clough Bags Hook-up Services Contract for Ichthys FPSO from DSME
Thursday, January 28, 2016Clough bags a hook-up services contract for the Ichthys floating, production, storage and offloading facility from Daewoo Shipbuilding & Marine Engineering Co.

South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
Monday, January 25, 2016South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.

Blame It on Oil: 2016 Unhappy New Year for Asian Shipyards
Monday, January 04, 2016With oil prices forecast to fall as low as $15 a barrel and China's growth slowing, orders for offshore projects and new vessels are hard to come by for the world's three biggest shipbuilders.

Songa Offshore Dismisses Claims Submitted by DSME for Songa Equinox Semisub
Wednesday, November 18, 2015Songa Offshore dismisses claims submitted by Daewoo Shipbuilding & Marine Engineering for the Songa Equinox semisub.

Petrofac Celebrates Sail-Away of First Modules to ZADCO's Upper Zakum Field
Tuesday, October 27, 2015Petrofac celebrates the successful sail-away of the first two modules for ZADCO's Upper Zakum development offshore Abu Dhabi, United Arab Emirates.

HHI, SHI & DSME Working to Standardize Offshore Design
Wednesday, October 14, 2015South Korea's Hyundai Heavy Industries together with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering are working to standardize offshore design to lower cost and ease project delays.

DSME Delivers Songa Endurance Semisub
Monday, August 24, 2015Daewoo Shipbuilding & Marine Engineering delivers Songa Endurance semisub to Songa Offshore, with the newbuild to head for Norway's Troll field soon to commence a contract with Statoil.

DSME Terminates Building Contract for Cobalt Explorer Drillship
Thursday, August 20, 2015Daewoo Shipbuilding and Marine Engineering terminates a construction contract for Cobalt Explorer drillship.

World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
Wednesday, July 29, 2015The world's three biggest shipbuilders posted a combined $4.1B in operating losses in the second quarter, paying the price for a failed foray into deep-sea oil rigs.

Aker Wins Mariner Hook-Up Engineering Contract
Monday, December 15, 2014Aker Solutions wins $188 million award from DSME to provide engineering services for the hook-up phase of the North Sea's Mariner oilfield development.

KBR-DSME JV Lands Eni's FEED Contract for Mozambique FLNG Facility
Friday, October 17, 2014The KD consortium lands a front end engineering design contract for a floating LNG facility for the Coral South project offshore Mozambique from Eni.

Petronas' FLNG Nears Completion as Topside Lifting Commences at DSME's Yard
Thursday, September 25, 2014Petronas' floating liquefied natural gas facility nears completion with lifting of the first topside module at Daewoo Shipbuilding and Marine Engineering's shipyard in Okpo, South Korea.

Rosneft, Partners Plan to Develop Engineering Cluster in Russian Far East
Wednesday, November 13, 2013Rosneft gets together with DSME and others to establish an engineering and shipbuilding cluster in the Russian Far East.

Aker Wins Mariner Drilling Equipment Contract
Wednesday, July 03, 2013Aker Solutions reports a deal with Daewoo Shipbuilding and Marine Engineering to supply drilling equipment to the North Sea's Mariner field.

Petrofac Consortium Wins $3.7B Abu Dhabi Deal
Thursday, April 11, 2013Petrofac Emirates and Daewoo win a $3.7-billion contract to supply the Upper Zakum field development in Abu Dhabi.

DSME Bags Contract Worth Over $2B for Four Drilling Ships
Wednesday, October 03, 2012Daweoo Shipbuilding & Marine Engineering secures an order worth $2.07 billion to build four drilling ships.

UPDATE: DSME Bags Oil Platform Contract of over $1.9B
Thursday, August 23, 2012DSME bags a contract worth over $1.9 billion to build five fixed drilling platforms working offshore Africa.

Technip Wins Services Contract For Ichthys FPSO
Friday, June 22, 2012Technip wins a services contract for engineering and procurement assistance for the topsides facilities at the Ichthys FPSO.

Daewoo E&C Nabs MOU for $10B PDVSA Project
Friday, April 27, 2012Daewoo Engineering & Construction signs an initial agreement in a consortium with STX Construction for an estimated $10B construction project with PDVSA.

Technip Awarded $117M Wheatstone Gas Platform Contract in Australia
Thursday, January 26, 2012The deal will see Technip produce a detailed design for Chevron's Wheatstone gas-processing platform, which will be located offshore Western Australia.

DSME to Construct World's Largest Floating Dock
Tuesday, November 22, 2011DSME started construction of the fifth Royal Dock, which will be the biggest floating dock in the world, on November 1.

Aker Solutions Scores Drilling Equipment Contract for DSME
Friday, August 26, 2011Aker Solutions has received a Letter of Award from DSME to supply two drilling equipment packages to the new 'Cat D' drilling rigs the yard is building for the rig operator Songa Offshore.

Daewoo to Build Vantage Ultra-Deepwater Drillship
Tuesday, May 10, 2011Vantage Drilling Company has entered into an agreement with Daewoo Shipbuilding and Marine Engineering Co., Ltd ("DSME") to construct an ultra-deepwater drillship further expanding the Company's ultra-deepwater drilling fleet.

Vantage Takes Delivery of Platinum Explorer
Wednesday, November 17, 2010Vantage Drilling Company has taken delivery of the ultra-deepwater drillship, the Platinum Explorer, from Daewoo Shipbuilding and Marine Engineering Co. Ltd. in South Korea. The vessel has set sail from the shipyard in transit to India to commence a