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HHI bags more Greek VLCCs

HHI bags more Greek VLCCs

Ulsan: Hyundai Heavy Industries has booked an order for three 318,000dwt VLCCs from Athenian Sea Carriers. The three vessels will be delivered from Hyundai's Ulsan yard in 2009 and 2010 at a reported cost of $127m each. The Kyriakou-controlled Greek operation is currently operating only two ships after a series of  sale and purchase coups on the rising market of the last few years. The order comes hard on the heels of another
major VLCC deal for the Korean yard with the placing of a two option two VLCC order at Ulsan by Greek operator Metrostar. Greek owners placed a staggering $3bn-worth of newbuilding orders in September alone to the huge benefit of Asian yards.  [09/10/06]

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