Two South Korean shipowners are behind a $282m order for three VLCC newbuildings at Hyundai Heavy Industries last month.
Shipbuilding sources said SK Shipping ordered two of the vessels, with Hyundai Glovis picking up the third.
They are said to have ordered the VLCCs against 10-year charter contracts with domestic oil company Hyundai Oilbank. The charter rate has not been disclosed.
“HOB [Hyundai Oilbank] needs the VLCCs to ship Maya crude from Mexico,” a tanker market source said.
Officials at SK Shipping and Hyundai Glovis were not available for comment.
HHI’s daughter yard, Hyundai Samho Heavy Industries, has been tasked with building the trio for delivery in the second and third quarters of 2021. SK Shipping and Glovis are said to be paying around $94m each for the scrubber-fitted vessels.
One tanker source said Hyundai Oilbank is seeking to charter a fourth VLCC, the 300,000-dwt Ghillie (built 2019), from SK Shipping.
South Korean private equity firm Hahn & Co, which is the controlling shareholder in SK Shipping, acquired the DSME-built Ghillie from Hartree Maritime Partners in October for $103m.
Five-year deal
European tanker sources said Hyundai Oilbank has chartered the Ghillie for five years and is paying $48,000 per day, making the charter contract worth about $87m.
The order was the second newbuilding deal at HHI for SK Shipping at the end of last year. It was also linked with an order for a second 180,000-cbm LNG carrier. HHI is scheduled to deliver the LNG pair in 2021.
On the sale-and-purchase front, SK Shipping has acquired a VLCC from Arne Fredly’s Hunter Group. It spent $98m on the DSME-built, 300,000-dwt C Guardian (built 2019), which is fixed out to Trafigura under a five-year charter, at $38,000 per day.
HHI signed contracts for nine VLCCs in 2019. Evalend Shipping of Greece signed up for four vessels and compatriot Neda Maritime booked one. International Maritime Industries, the joint venture yard between Saudi Aramco, Lamprell, Bahri and HHI, also ordered a VLCC at HHI last year.
