Hyundai Mipo Dockyard announced on Febuary 29 that it contracted four 46,500-dwt product chemical tankers, valued at overall $250m, from state-owned Kuwait Oil Tanker Company (KOTC).
There was a contract signing ceremony in Kuwait, on Feb 28.
The newly ordered vessels, 189m in length, 32.2m in breadth and 18.5m in height, are capable of sailing in 15.2 knots and scheduled to be delivered one by one, the last one due delivery in August 2014.
These newbuildings, in particular, are 'Eco ships,' equipped with fuel-efficient engine and constructed with an optimized design.
One from the South Korean shipyard said, "Hyundai Mipo would overcome recently troubled market by focusing on winning new orders for fuel-efficient and high-value ships, such as offshore support vessels, small-and-medium sized specialized ship, etc."
Meanwhile, with recent order from KOTC, Hyundai Mipo has secured overall eight vessels totalling about $400m. The yard has set new order target of $3.2bn for this year, up by about 60% than 2011.