Norway’s DSD Shipping is renewing its fleet with an order for up to four 50,000-dwt medium-range (MR) tankers at Hyundai Mipo Dockyard, a deal that could be worth up to $128m.

The deal is for two firm ships to be built at Hyundai-Vinashin in Vietnam, with an option for two more units.

Oddvar Hausken, chief executive of the Stavanger-based owner, confirms the order but declines to comment on the terms.