Herbjorn Hansson has backed the Korean shipbuilding industry to recover from its perilous slump - and is planning a new order there.

The Nordic American Tankers CEO spoke to the Maeil daily while taking delivery of two suezmaxes from Sungdong Shipbuilding.

“When there is down, there will be also up,” Hansson said. “Whenever they face difficulties, they never, never, never give up, and they made fantastic progress with hard work," he added.

"I