Hyundai Heavy Industries (HHI) has won a potential $1bn VLCC contract from National Shipping Co of Saudi Arabia (Bahri) that pushes the sector’s orderbook into triple figures.
Seoul-listed HHI saw off competition from rival STX Offshore & Shipbuilding to win an up to 10-ship deal after offering a competitive price and drawing on its strong relationship with the owner.
TradeWinds is told that Bahri is paying around $98m apiece for the 320,000-dwt crude oil tankers, including “extras”.
