Hyundai Mipo Dockyard is expected to win large MR Product Carrier (PC) orders as it is now under negotiations with BP Shipping.

Broker industry prospected that the Korean shipbuilder would ink a contract to build five 40,000 dwt units and another five units of 51,000 dwt with BP, reported by TradeWinds.

These 10 newbuildings are slated for delivery from 2015 to 2016 with pricing seen to reach $35-40m apiece. Industry watcher said that BP tends to prefer high specification vessels.

In addition, apart from the firm ten newbuilds, further five options are likely to be included to each vessel size of the contract.

However, broker industry say that BP is proceeding negotiations with other yards as well that it is still too early to conclude that Hyundai Mipo would win the newbuilding contract.