South Korea’s Sinokor Merchant Marine is said to have struck a newbuilding contract with Hyundai Mipo Dockyard (HMD) for four feeder-size container ship newbuildings.

Shipbuilding sources said the low-profile shipping company has booked four firm 2,500-teu vessels worth more than $160m for delivery between the second half of 2023 and end of 2024.

The sources identified Sinokor to be the company behind the 2,500-teu newbuilding quartet that Korea Shipbuilding & Offshore Engineering Co (KSOE) announced on Monday.