DSME Signes a $800M Deal With Sovcomflot

South Korea’s Daewoo Shipbuilding & Marine Engineering announced today that on October 20th they signed a newbuilding contract with the  state-owned Sovcomflot to build a total of 12 Aframax crude/product carriers (including vessels to be built in Russia and optional units) worth around $800m.

The contract was jointly awarded to DSME’s Russian joint venture Zvezda-DSME and the 120,000-dwt tankers are scheduled to be delivered by 2014.

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