Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Monday that it has clinched a contract from a Canadian shipping company to build two liquefied natural gas (LNG) carriers.

Under the deal with Teekay Corp., Daewoo Shipbuilding will deliver the vessels with a capacity of 173,000 cubic meters of LNG by 2016, the company said.

The contract also includes an option of three more carriers, it added.

The shipbuilder, however, did not disclose the financial terms of the contract.

Each vessel is expected to be equipped with a high-end environment-friendly engine, the so-called ME-GI engine developed by Man B&W AG of Denmark, according to Daewoo Shipbuilding.

Source Text

Source: Yonhap News (Dec. 17, 2012)