South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has signed a letter of intent for 10 LNG-fuelled VLCC newbuildings worth KRW 1.1trn ($1bn).
The deal prices the tanker newbuildings at about $100m each, which would indicate a $15m to $16m premium for a dual-fuelled vessel.
DSME said on Monday that it had inked the LOI for the 300,000-dwt ships but added that the contract is expected to be concluded in the first quarter of next year.
The shipbuilder did not name the company behind the LOI, simply describing them as "European shipowners that promoted LNG dual fuel".
Industry talk was alive with speculation about which owner and charterer might be behind the business.
If concluded these would be the first dual-fuelled VLCCs for DSME.
To date only three have been ordered.
First movers
China was the first mover with Cosco Shipping Energy Transportation ordering the world's first LNG-fuelled VLCC at Dalian Shipbuilding late last year.
In April, Malaysian shipowner AET inked two LNG-fuelled VLCCs at Samsung Heavy Industries in South Korea against term contracts with French energy major Total.
These vessels were priced at about $105m each and are due for delivery in 2022.
AET was holding two optional berths at the yard for similar tonnage but these are understood to have been let go.
Competing energy majors Total and Shell have been engaged in separate long-running projects to develop LNG-fuelled VLCCs.
DSME has been moving fast in the past few weeks to make up for the dearth of enquiry seen this year.
Last week, the shipbuilder announced it had inked a contract with Abu Dhabi's Adnoc Logistics & Services for three VLCC newbuildings
The order included an option for a further trio.
Adnoc L&S is believed to have an option to change its choice on the fuelling system for the vessels.
DSME has been pushing the use of high-manganese steel for LNG bunker tanks on vessels.
The shipyard is due to sign a long-awaited order for up to six ultra-large containership newbuildings with Germany's Hapag-Lloyd this month. These vessels are expected to be LNG fuelled.
