Korea's Sungdong Shipbuilding has secured refund guarantees for a series of new aframax tankers.
The Export and Import Bank of Korea (Korea Eximbank) has backed five ships ordered in May by Kyklades Maritime of Greece, the Asiasis website said.
The 115,000-dwt tankers will be completed from the second half of 2018.
TradeWinds first reported the likely deal in April.
The contract, which was the first for the South Korean shipbuilder in 18 months, could be worth $280m.
