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Hyundai Heavy receives $360 million order for VLCC quartet

Hyundai Heavy receives $360 million order for VLCC quartet

An order for the construction of four very large crude carriers (VLCCs) was secured by the South Korean shipbuilder Hyundai Heavy Industries (HHI), part of Korea Shipbuilding & Offshore Engineering Co.

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The order, issued by companies in Oceania and Europe, is valued at approximately $360 million.

As announced, the vessels will be constructed at the Ulsan shipyard and are scheduled to be delivered in the first half of 2022.

The tankers will have a length of 330 metres and a width of 60 metres once completed. They will be fitted with energy-efficient systems and scrubbers that comply with international environmental regulations.

The shipbuilder has been steadily winning new orders thanks to energy-saving, eco-friendly technologies it has built in the ultra-large crude oil carrier market, according to an official from Korea Shipbuilding & Offshore Engineering.

The South Korean shipbuilder has received orders so far this year for seven out of a total of sixteen VLCCs ordered on a global scale, accounting for 40% of the market share.

Maritime Business World 

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