Exmar LPG has secured an attractive price to take over a contract for a 38,000-cbm LPG carrier at Hyundai Heavy Industries (HHI).

The owner is believed to have clinched a deal to buy the ship, which is due for delivery in the third quarter of 2018, for just $45m to $46m.

The average order price for new midsize ships has been around $50m after peaking at $54m.