Hong Kong-based Cido Shipping has been linked to a $177m VLCC newbuilding order at South Korea's Hyundai Heavy Industries.
The low-profile shipping company has signed up for two 300,000-dwt crude tankers with the Ulsan-based shipyard, shipbuilding market sources said.
The deal marks the shipowner's first order in five years.
Cido has opted to build conventionally-fuelled VLCCs but will equip them with scrubbers.
