George Economou has continued his 2017 spending spree with an order for four VLCCs at Hanjin Heavy Industries & Construction (HHIC)’s Subic Bay shipyard.

TradeWinds reported last month that the Greek owner was talking with the shipbuilder about new tankers amid an upturn in newbuilding interest in the sector.

Hanjin officials now confirm a contract has been signed for four firm vessels for delivery in 2019.