Hyundai Mipo Dockyard (HMD) from Ulsan, South Korea, signed on October 29th 2013 two contracts worth circa $492 million for the construction of sixteen Medium Range (MR) tankers.

The vessels were ordered by an unnamed ship owner from the Middle East.

Hyundai Mipo revealed in a regulatory filing to the Korea Stock Exchange that all the vessels should be delivered by the end of November 2016.