Belgian owner Exmar has penned midsize LPG carrier newbuildings at South Korea's Hyundai Mipo Dockyard.
The deal to construct up to eight 38,000-cbm vessels at South Korea’s Hyundai Mipo Dockyard materialised on Thursday.
Finance chief Miguel de Potter said the initial order will include four vessels at a cost of $50m apiece and says the transaction “may evolve” as negotiations continue in the coming weeks.
“We are very bullish on the midsize LPG segment as these vessels can transport both ammonia and LPG,” he added.
Exmar says the ships, which will begin hitting the water in the first quarter of 2014, will be designed to “stay ahead of upcoming amendments in environmental legislation” with an innovative ballast water treatment system and features that will help reduce emissions and fuel consumption.