South Korea: Hyundai Mipo Bags 20 Medium Range Tanker Deal

Korean shipyard Hyundai Mipo Dockyard has been awarded with a contract for 20 Medium Range (MR) product carriers by Sinokor Merchant Marine, according to Fearnleys Weekly report.

Reportedly, the contract was signed last week and it comes in the form of 10 formally ordered and 10 optional 52,000-dwt tankers.

The order comes after a long-term charter deal with Royal Dutch Shell in a project dubbed “Project Silver”.

The delivery is planned for 2014-2015.

The estimated overall value of the contract is around 680 million USD, i.e., USD 33.5-34 million per ship.

[mappress]

World Maritime News Staff, December 6, 2012; Image: HMD