Hyundai Heavy bags deal to build 2 oil tankers

Sarah Carter
Sarah Carter

21 February 2017

South Korean shipyard has secured a deal to build two oil tanker ships.

Yonhap reported quoting industry sources that the Korean shipbuilder will build two large crude carriers (VLCC) with 320,000 dead weight tonnage (DWT) by the end of 2018, under the deal with Greek shipping company.

The value and terms of the deal were not revealed, but an oil tanker with such a DWT is roughly priced at over 80 million U.S. dollars.

Hyundai Heavy Industries also sealed a contract with a Turkish consortium to build a floating storage regasification unit this month (FSRU).

And in January alone, the shipyard won orders to build three ships for 390 million dollars.

Sources say inquiries from Greek shipping firms have increased, but whether they will increase orders this year remains uncertain.