SEOUL, December 02 (AJP) - Hanwha Ocean said Tuesday it has secured an order for two very-large crude carriers (VLCCs), valued at 375.3 billion won ($255 million).
The VLCCs will be built at the company’s Geoje shipyard.
Company officials say improved conditions in the international oil market are fueling new orders. Rising production and exports by OPEC members have lifted VLCC freight rates, while the aging of the global tanker fleet is accelerating replacement demand.
With the latest deal, Hanwha Ocean has secured orders for 43 vessels so far this year. Those include 19 VLCCs, 17 container ships, six LNG carriers and one icebreaking research vessel, with a combined value of about $7.96 billion.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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