In March 2, 2017, Daewoo shipbuilding announced the signing of 2+2 LNG ship and an anonymous owner of construction contract, the new ship will be delivered in August 2019. This is the first new ship orders this year for Daewoo shipbuilding.
Daewoo shipbuilding received 4 LNG ship orders
These 2 LNG ship total value of 414 billion won (about $363 million), plus the total contract price of about 83 million yuan (about $726 million). This order will expire in April 440 billion won to repay the debt to help Daewoo shipbuilding.
Last month, the United States and Daewoo shipbuilding company Excelerate Energy signed a letter of intent, will build the ship 1+6 FSRU 173400 cubic meters, the total value of about $1 billion 600 million. Previously, Daewoo shipbuilding said the deal is expected to be officially finalized in April.
It is reported that this year, Daewoo shipbuilding to repay 940 billion won ($824 million) of corporate bonds, including April 21st due to expire in July 23rd 440 billion won, 300 billion won and 200 billion won to expire on November 29th.
According to the November third quarter earnings last year, GM Daewoo, Daewoo shipbuilding about 739 billion won in cash, currently hold cash or cashable assets probably not enough to pay off the debts. The worse is in shortage, Daewoo shipbuilding orders recently drilling ship delivery was delayed to schedule repayment more difficult dilemma.