Jakarta-based Pertamina International Shipping is in the final stages of ordering 15 product tankers at Hyundai Mipo Dockyard, market sources have said.

The order, which is reported to have a combined value of $720m, is set to tie up a significant number of MR tanker newbuilding slots at the busy South Korean shipbuilder.

Pertamina International will finalise the order during the first week of January, sources familiar with the deal told TradeWinds.