US energy major ExxonMobil has doubled its bet on MR product tanker newbuildings, upping its charter deals to eight vessels.
Industry sources said the oil major has chartered-in four 50,000-dwt product tankers from South Korean shipowner Sinokor Merchant Marine.
Details of the contracts have not been disclosed but industry sources speculate they will be for at least five years, with options to extend the hire.
The sources believe the newbuildings in question are a series that Sinokor ordered at Hyundai Mipo Dockyard (HMD) in February.
At that time, the company was reported to have placed an order for four firm vessels plus two options. Sinokor was reported to be paying an extra $4m to $5m per ship as the newbuildings will have an IMO type 2 chemical rating, with multiple tanks and possibly phenolic-epoxy coatings.
HMD is scheduled to deliver three tankers next year and one in 2021.
Sinokor did not respond to a request for confirmation and comment.
Last week, TradeWinds reported that ExxonMobil had chartered four similar tanker newbuildings from Japanese shipowner Meiji Shipping.
The 50,000-dwt vessels are also being built at HMD and are slated for delivery in the first half of next year.
With the newbuildings' fixtures apparently concluded, industry players' attention is switching to ExxonMobil's aframax tanker newbuilding requirement.
Ice-class vessels
The major is said to be seeking two ice-class 1A tankers capable of bow loading, with options for another two vessels. Some brokers have suggested there was also an initial interest in these being dual-fuelled vessels.
Newbuilding brokers said shipowners are bidding on offers from South Korea’s Hyundai Heavy Industries and Samsung Heavy Industries.
Among those mentioned, Teekay Tankers, Sovcomflot (SCF Group), AET, and Tsakos Energy Navigation are being linked to offers on SHI slots, while Knutsen OAS Shipping and Mitsui & Co are believed to have submitted bids based on HHI berths.
“Daehan Shipbuilding is not bidding for the project as it does not have the resources to design the vessels,” said one shipbuilding source.
“DSME is also not participating as it is focusing on large tankers such as VLCCs and mega-size containerships and LNG carriers. HHI and SHI are the only two shipyards that are competing for this project."
A spokesman for ExxonMobil said the company does not comment on its commercial activities, market rumours or speculation.
"ExxonMobil continuously evaluates its global portfolio of businesses and opportunities for growth, restructuring or divestment, depending upon fit with its overall strategic business objectives," he said.
"Our priorities remain the same as ever — to effectively meet the expectations of our customers, employees, dealers and other business partners while maintaining a consistent focus on safe, flawless, efficient operations."
