Solvang has signed a letter of intent (LOI) for up to four 21,000-cbm ethylene carriers with Hyundai Mipo Dockyard (HMD).

The LOI is for two firm vessels plus options for two more at the mid-sized South Korean shipbuilder.

No financial details were disclosed. Deliveries are scheduled for the first and second quarters of 2019.

Solvang said the final agreement is subject to satisfactory technical specification and contractual terms, with deadline set for late March 2017.