South Korean shipbuilder Hyundai Heavy Industries (HHI) has actually revealed that it has actually authorized a $400 million agreement to develop an added 5 Very Large Ore Carriers (VLOCs) for Polaris Shipping.

The newbuild order is the outcome of an alternative worked out complying with the agreement for 10 VLOCs of the very same course with Polaris Shipping on September 25. The initial order stood for the solitary most significant order that HHI has actually gotten given that 2012.

HHI stated in September that the 325,000 dwt ships will certainly gauge 340m in size, 62m in size, and also 29.8 meters in elevation, and also will certainly be made to be LNG-ready to satisfy strengthening ecological guidelines. The 10 preliminary vessels are arranged to be supplied by 2021.

Including Monday’s order, HHI Group’s shipbuilding associates have until now this year won brand-new orders for 110 ships worth $ 6.7 billion, 90% of the $ 7.5 billion yearly target.

To day, HHI has actually currently gotten an overall of 25 newbuild orders from Polaris Shipping, consisting of 7 vessels purchased in 2013 that have actually currently been supplied.

Polaris Shipping has actually been getting brand-new tonnage over the last few years to change older VLOCs that Polaris had actually transformed from existing single-hulledVery Large Crude Carriers One such vessel, the 266,000 dwt Stellar Daisy, sank previously this year in the Atlantic Ocean while underway from Brazil to China with the loss of 22 team participants.