Pistiolis returns to suezmaxes with newbuild order at Hyundai

Greek shipowner Evangelos Pistiolis has returned to the suezmax tanker market for the first time in eight years with a move for up to four new vessels.

Pistiolis has snapped up two firm newbuilding berths at Hyundai Heavy Industries in South Korea with options for two more vessels — and has ambitions for expansion in the sector.

The tankers, which are likely to be constructed at HHI-controlled Hyundai Samho Heavy Industries, are understood to be priced at slightly below $60m each.