Polaris in $800m VLOC order at Hyundai Heavy

Polaris Shipping has inked a KRW908bn ($800m) order with Hyundai Heavy Industries (HHI) for 10 VLOCs.

The 325,000 dwt VLOCs are to built in phases by HHI with delivery through to 2021.

The VLOC orders by Polaris are for contract with Brazilian miner Vale. Polaris operates a fleet of exiting VLOCs converted from VLCCs which have been in the spotlight over safety since the Stellar Daisy sank in the Atlantic in April with the loss of 22 lives.

The latest orders bring HHI's new order total for 2017 to 99 vessels valued at $5.8bn, a major improvement in just $2bn worth of orders booked a year earlier.

Posted 26 September 2017

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Marcus Hand

Editor, Seatrade Maritime News

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