Korea's Hyundai Mipo Dockyard is poised to win a massive newbuilding order for MR Product Carriers.
Domestic shipping player Sinokor Merchant Marine is said to be ordering the vessels on the back of a long-term charter deal with Royal Dutch Shell in a project code-named “Project Silver”.
HMD will be reportedly building 10 firm plus 10 optional 52,000DWT PCs.
Market sources estimate newbuilding price at around $32m per ship.