The deal, first floated by TradeWinds a few weeks ago, sees Maran Tankers pay KRW 402.50bn ($390.7m) for the newbuildings.

Angelicoussis has an agreement with the yard allowing the option to install LNG powered engines on the ships, the Yonhap news agency says.

While classification societies have been working on designs for LNG powered VLCCs, these tankers could potentially be the first to adopt such engines.

The