Sovcomflot has penned an order for up to 12 tankers with Daewoo Shipbuilding & Marine Engineering (DSME) with a Russian joint-venture yard getting a slice of the action.
The monster order comes just after the Sergey Frank-led owner completed the sale of $800m worth of seven-year notes.
The ships concerned are all understood to be 120,000-dwt aframaxes with the order of a dozen including a number of options.
