UK-based Union Maritime's appetite for medium-range (MR) tankers continues, with the Laurent Cadji-led company spending around $128m ordering up to four newbuildings in South Korea.
It follows hot on the heels of the outfit reportedly splashing close to $92m on secondhand vessels during the past four months.
Industry players say Union Maritime has signed for two firm, 50,000-dwt newbuildings at Hyundai Mipo Dockyard (HMD) for delivery during the third quarter of 2018.
