Brokers: Vitol Tied to Two More LPG Tankers at HHI

Oct 27, 2017

Dutch energy and commodity trading group Vitol has declared options for two liquefied petroleum gas (LPG) tankers at South Korean shipbuilder Hyundai Heavy Industries (HHI), according to the latest report from Intermodal.

The 84,000 cbm gas carriers would be fitted with ballast water treatment systems and scrubbers to meet the International Maritime Organization’s sulphur cap set to come into effect 2020

According to the report, the newbuildings are slated for delivery in 2019. Nevertheless, the price details of the duo have not been disclosed.

When approached by World Maritime News for a statement on the report, Vitol did not want to comment.

In July this year, HHI was contracted by Vitol to build two 84,000 cbm LPG tankers with an option to build six more.

As reported earlier, the company was said to be paying a sum of USD 68 million per vessel.

Separately, on Monday, Hyundai said it won an order for five additional very large ore carriers from Polaris Shipping.

The order, worth USD 400 million, is an option being exercised as part of a contract signed on September 25, when Polaris ordered ten VLOCs of the same class from HHI.

Based on the shipbuilder’s latest estimate, HHI Group’s shipbuilding affiliates have so far this year won new orders of 110 ships worth USD 6.7 billion, 90% of the USD 7.5 billion annual target.

HEADLINES