The logo of Daewoo Shipbuilding & Marine Engineering Co is seen at its building in Seoul, South Korea. Photo: Retuers, Kim Hong-Ji

Demand for ice-breaking tankers that can ply melting Arctic seas is helping Daewoo Shipbuilding & Engineering to stave off bankruptcy.

Joongang Daily reports the ailing South Korean shipyard has delivered the world’s first icebreaking liquefied natural gas (LNG) tanker to a Russian client.

The US$320 million vessel is one of 15 on order from shipper Sovcomflot. The tankers will operate from Russia’s second largest LNG plant at Sabetta, on the Yamal Peninsula in northern Russia.