Hyundai Heavy Industries has clinched an order from Knutsen NYK Offshore Tankers to build a 112,000 dwt offshore shuttle tanker.
Financial terms for the deal were not disclosed.
Norway-headquartered Knutsen NYK Offshore Tankers, 50% owned by Japan's NYK, has agreed to time-charter the tanker to Standard Marine Tønsberg for 10 years.
The shuttle tanker is scheduled to be delivered in the first quarter of 2014 to service the North Sea offshore fields.