BP confirms MR haul

BP Shipping has signed a deal with Hyundai Mipo Dockyard (HMD) to build 14 medium-range (MR) product tankers.
Hyundai Mipo president and chief executive W G Choe (left) shakes on deal with BP Shipping chief John Ridgway.

Hyundai Mipo president and chief executive W G Choe (left) shakes on deal with BP Shipping chief John Ridgway.

The company said in a statement, released after a signing ceremony in London today, that nine of the vessels are expected to be 50,000dwt ships, with the balance being 40,000dwt tankers.

The first vessels are due for delivery in first quarter 2016 with handovers completing by end-2017.

TradeWinds first reported BP had started to trawl yards for MR berths in March and named HMD as its yard of choice last month.

The major said the move is part of BP Shipping’s continual evaluation of its fleet to ensure it meets the needs of the wider BP Group and reflects business requirements.

BP Shipping chief executive John Ridgway, CEO of BP Shipping, said: “The safe transportation of hydrocarbons for the BP Group is always BP Shipping’s purpose. This deal underlines our commitment to delivering oil and gas safely, and also our drive to do this as efficiently as possible.”

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