Kuwait and Cairo-based Arab Maritime Petroleum Transport Company (AMPTC) has returned to Hyundai Heavy Industries (HHI) for product tanker newbuildings.

The Middle East tanker owner whom has stayed away from the shipbuilding market in the last five years, has made the dash for dual-fuelled LR2 tankers by signing up for four newbuildings worth close to $328m.

According to shipbuilding sources, AMPTC's newbuildings contract at HHI are firm vessels and the deal does not include any option units.

Officials at HHI declined to disclose on the shipyard's newbuilding activities citing contract confidentiality and AMPTC was not available for comment.