Rare HHI order would set Korean VLCC benchmark

Speculation links a Greek owner with a cut price tanker contract at Korean yard

26 January 2017 18:00 GMT Updated 26 January 2017 18:00 GMT

By Andy Pierce London; Irene Ang Singapore; Harry Papachristou Athens

Hyundai Heavy Industries (HHI) is being linked to a rare VLCC newbuilding contract that would set a new benchmark for South Korean-built tankers if confirmed.

Several prominent Greek shipowners are being connected with a letter of intent for a pair of VLCCs at HHI. Embiricos and two companies run by members of the Martinos family, Eastern Mediterranean (EastMed) and Minerva Marine, are being mentioned as the signatory on the rumoured deal.