Hyundai Mipo Dockyard (HMD)’s haul of 50 newbuildings under “Project Silver” will cost the yard between $250m and $300m in lost revenue and leave the owners who contracted them with single-figure percentage returns, newbuilding brokers say.
Stock-exchange statements price each of the 50,000-dwt ships, which have all been penned against charters with Shell, at around $30.7m, giving the order a whopping price tag of $1.5bn.
