HHI to Build up to Eight Gas Carriers for Vitol
- Business & Finance
South Korean shipbuilder Hyundai Heavy Industries (HHI) has won a contract to build up to eight very large gas carriers (VLGCs) for the oil trading company Vitol, according to Reuters.
Under the deal, the shipbuilder will construct two liquefied petroleum gas (LPG) tankers with a capacity of 84,000 cbm each. Vitol has the option to order six more vessels of the same type, data provided by VesselsValue shows.
Signed in late July, the contract has a value of around USD 544 million when all options are included. The company is reportedly paying a sum of USD 68 million per vessel.
To be built in Ulsan, the new LPG tankers are scheduled to be delivered to their owner in the first half of 2019.
The new vessels will be designed to consume less fuel and be eco-friendly to meet the International Maritime Organization’s sulphur cap set to come into effect 2020, local media cited HHI.
World Maritime News Staff