Kangnam Corporation, a Korean shipyard that traditionally has focused on military vessel construction, has won its first product carrier order.

Local firm Doora Logistics has given Busan-based Kangnam a contract to build a 4,700dwt product carrier. The ship will be delivered in early 2018.

A number of Korean yards that used to build smaller product carriers have gone bust during the downturn giving Kangnam a chance to get into merchant ship production.