Hyundai Heavy Industries is in order talks with companies for up to 16 VLCC newbuildings worth $1.4bn.
Industry sources said Seoul finance company Everest Korea Finance Advisory has inked a letter of intent (LOI) with the South Korean shipbuilder for 10 VLCC newbuildings priced at about $85m apiece.
Everest Korea has also approached unnamed domestic shipbuilding technical companies to act as newbuilding consultants.
