Japanese owner Nissen Kaiun has returned to Hyundai Mipo Dockyard (HMD) for another round of boxship newbuildings in an order potentially worth more than $80m.

Shipbuilding sources said the Hakata-based shipowner has signed up for four more 1,800-teu Bangkokmax newbuildings at the South Korean shipyard, bringing its total there to eight.

The price tag of Nissen’s latest newbuildings was not disclosed. But the four vessels ordered earlier this year were reported to be costing in the low $20m-range each.

Officials at Hyundai Heavy Industries-controlled HMD declined to disclose the shipyard’s newbuilding activities, citing contract confidentiality.

A Nissen executive said his company does not make public comments.

Nissen’s earlier four Bangkokmax newbuildings were ordered on the back of a 10-year charter from South Korean liner operator KMTC. The line was estimated to be paying around $12,000 per day for the charter.

One boxship source said Nissen has found employment for two of the latest four newbuildings ordered at HMD, with KMTC again named as the charterer.

Six chartered to KMTC

“In total, KMTC has chartered six Bangkokmax newbuildings from Nissen,” the source said. “We do not know if Nissen has found employment for the remaining two feeder boxship newbuildings.”

Katsuyo Abe-led Nissen is one of the largest private shipowning companies in Japan. It is primarily a tonnage provider, with more than 100 vessels worth $2.8bn on the water. Most of its fleet is made up of bulkers, followed by boxships and tankers. It also has reefers and carriers.

According to industry databases, Nissen has more than 33 newbuildings worth about $1bn on order at shipyards in Japan for delivery by 2020.

Last week, Nissen was reported to have signed up for two, 50,000-dwt MR product tanker newbuildings at Japan Marine United for delivery in 2019.

Singapore’s BW Tankers is believed to have chartered the pair.