Nissen Kaiun linked to order for 8 MR2 tankers at Hyundai Mipo

Japanese shipowner Nissen Kaiun has placed a new order for eight tankers, each with a capacity of 50,000 deadweight tons (dwt), according to a recent report from Intermodal.

Illustration; Image credit: Hyundai Mipo Dockyard

The vessels will be fully compliant with Tier III and EEDI Phase 3 regulations, which sets strict limits on carbon emissions and requires the use of more energy-efficient technologies in shipping.

The cost of each tanker is expected to be around $46.3 million, and the ships are slated to be launched between 2024 and 2025.

The latest order brings the company’s ordering tally to over 30 ships, including 28 for MR2 tankers, data from VesselsValue shows.

The 50,000 dwt MR2 tankers are being built by Hyundai Mipo Dockyard and Hyundai Vietnam Shipbuilding. This latest reported order from Nissen Kaiun comes on the heels of the company’s recent orders totaling eight tankers placed over the past couple of months.

There has been a massive surge in tanker ordering over the past few weeks as the availability of shipbuilding capacity starts to open up and tanker market conditions show signs of robustness moving ahead.

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Hyundai Mipo has been on the receiving end of the increased interest in newbuilding ordering in the tanker sector. Earlier this week, Purus Marine revealed an order for four ammonia-ready LPG tankers at the yard.

The 45,000 cbm vessels will be equipped with scrubber technology and are expected for delivery from the second half of 2025 through Q1 2026. The company said that the ships will be dual-fuel ammonia-ready and fitted with shaft generators and scrubbers. The order is valued at $68.69 million per unit according to Clarksons Research.

Purus has also secured options for two additional vessels. The vessels are expected to primarily carry ammonia.

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Demand is holding strong in LPG and LNG sectors. Namely, earlier this week, Hyundai Mipo’s parent HD Korea Shipbuilding & Offshore Engineering (KSOE) signed contracts for eight new ships, including six liquified natural gas (LNG) carriers and two liquefied petroleum gas (LPG) carriers. The $1.8 billion contracts will be spread between KSOE’s subsidiaries, Hyundai Heavy Industries, and Hyundai Samho Heavy Industries.

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