South Korea’s Dae Sun Shipbuilding has scooped a contract for MR tanker newbuildings that could be worth KRW 160bn ($142m) if all options are exercised.

The deal marks the third newbuilding contract for the shipyard this year, providing a welcome leg up as South Korean shipbuilders are struggling to make order targets.

A Dae Sun executive confirmed that his company had received an order for two 50,000-dwt product tanker newbuildings. The deal includes options for another pair.