Pan Ocean makes break into VLCCs with first newbuild, but will others follow?

South Korean owner Pan Ocean has made a first move into tankers by ordering a VLCC newbuilding at shipbuilder DSME.

The contract on the scrubber-fitted, 300,000-dwt tanker was signed on 31 March, giving DSME its first VLCC order for 2020.

The yard said the eco-friendly newbuilding, which will also be fitted with a desulfurisation device, is the first DSME-built vessel to meet the IMO's EEDI Phase 2 (Energy Efficiency Design Index), which became effective on 1 January.