DSME celebrates Nigerian shipping bonanza

Amid a global slump in newbuild orders Korea's Daewoo Shipbuilding & Marine Engineering Co. (DSME) said its venture in Nigeria signed a one-year agreement to ship oil for Nigerian National Petroleum Corp. (NNPC) worth $100 million. The venture will ship 260,000 tons of oil a month, the Seoul-based company said in an e-mailed statement today. DSME is in a jv with the oil major and Exmar to ship oil to international markets. The jv was formed four years ago. NNPC has a similar jv with another big Korean builder, Hyundai Heavy Industries.

(Source: Sea Trade Asia)