Brokers: Hyundai Mipo Dockyard Wins Tanker Quartet Order

TankerIllustration; Image Courtesy: Shaah Shahidh on Unsplash

South Korean shipbuilder Hyundai Mipo Dockyard has reportedly won an order for the construction of four tankers from Evangelos Pistiolis – led Central Group from Greece.

According to Intermodal, the 50,000 dwt quartet is scheduled for delivery in 2020 and the newbuilds would be scrubber-fitted to comply with the new sulphur regulations.

The price details of the deal were not disclosed, however, market valuations indicate that the price could be approximately USD 36 million per vessel.

The order is in line with anticipated growing demand for medium range tankers, especially in the product tanker sector, in the upcoming period. The projection is based on the increased need for compliant bunker fuels across global ports required for the implementation of the 2020 sulphur cap.

Based on the data from VesselsValue, Hyundai Mipo has secured over 80 orders, dominated by MR2 chemical and product tankers.

As part of Hyundai Heavy Industries Group’s 2019 orderbook target of USD 15.9 billion, Hyundai Mipo Dockyard has vowed to obtain USD 3.5 billion worth of orders. HHI has set sights on attaining USD 8 billion in the shipbuilding segment, whereas Hyundai Samho Heavy Industries expects to secure USD 4.3 billion worth of orders, as reported by Yonhap.

World Maritime News Staff


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