GENERAL NEWS

Hyundai secures VLCC quintet order

16 years ago

Hyundai Heavy Industries has won a contract with Hong Kong-based Brightoil Petroleum to build five VLCCs at a total cost of $537.5 million.

The South Korean shipbuilder plans to construct and deliver the first four 318,000 DWT tankers by the second half of 2012 and the remaining one by 2013. The Hong Kong-listed Brightoil Petroleum earlier unveiled its plan to purchase a total of nine VLCCs, including the ones ordered from Hyundai, to become a global player in the oil transport market.