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More Orders for Far East Yards


Hyundai Heavy Industries disclosed on June 9 that it has won orders for two large-sized VLCCs from a Singapore shipping line Neptune Orient Lines (NOL). "We have signed a contract with NOL on May 1 to construct two 292,000 dwt VLCCs plus two in option," said a Hyundai official, adding that this newbuilding order stems from the option." The first vessel among the four VLCCs is expected to be delivered to the shipowner in 2001 and the remaining vessels by the end of 2003.

Meanwhile, Samsung Heavy Industries is also succeeded in winning orders for three 308,000 dwt VLCCs from a Norwegian shipping line. In addition, Hitachi Zosen, one of the leading shipbuilders in Japan, is reported to have won an order for one 296,000 dwt VLCC from Wah Kwong Line in Hong Kong.

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