A deal between South Korean owners, South Korean finance providers and South Korean shipyards for 10 VLCCs pins scrubber-equipped VLCCs at US$88.4M each
The unit price of U$88.4M per scrubber-equipped VLCC reported by BRL in its latest Weekly Newbuilding Contracts newsletter is significantly lower than the US$95-96M reported only a few months ago.
The bulk ordering will have helped lower the price. Seven of the 10 VLCCs are to be built by Hyundai Heavy Industry and three by Hyundai Samho. The VLCCs are to be financed by Everest Korea Finance and will be operated by South Korean owners.
The VLCCs are of S-Max scrubber-fitted design and will be constructed between August 2022 and August 2023
BRL also reported the merger between Hyundai and Daewoo is going ahead despite the long wait for approvals from the EU and elsewhere. The merged shipyards will be known as Korea Shipbuilding & Offshore Engineering (KSOE) group.
In other news, New Times Shipbuilding laid the keel for first of a series of 115,000-dwt Aframax tankers for Lou Kollakis’ Chartworld Shipping of Greece. According to Allied Shipbroking, the price was US$45.5M per vessel with VesselsValue reporting that Chartworld has six Aframax tankers on order at New Time Shipbuilding with delivery dates covering 2021 and 2022.
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