Russia’s Sovcomflot has secured ten-year time-charter deals from Russian petrochemicals giant Sibur that have enabled it to move ahead with the switch of two panamax-bulker newbuildings ordered at South Korean shipbuilder Hyundai Mipo Dockyard into LPG carriers.
The berths for the newbuildings were originally for four 75,000-dwt panamax bulkers priced at $37m each. But the contracts on two of the bulkers are understood to have been changed to LPG ships.
The company signed with Hyundai Mipo for two semi-refrigerated, 20,600-cbm, ice-class IB LPG carriers. The ships are believed to be priced at just over $50m each with due for delivery in the third and fourth quarters of 2013.
The vessels will be used to export cargoes of propane and butane from Sibur’s upcoming Ust-Luga Terminal.