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Hyundai Heavy awarded contract for building 4 tankers for Russia's largest shipping company

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Hyundai Heavy awarded contract for building 4 tankers for Russia's largest shipping company

South Korean shipbuilding company Hyundai Heavy Industries was awarded a contract to build four tankers for Sovcomflot, Russia's largest shipping company, Yonhap news agency reports, citing the company’s statement.

New tankers are of “Aframax” type with displacement of each of these ships amounting to 114 thousand tons. In total, the value of the contract is $240 million.

Tankers for Sovcomflot will be the first large vessels in the world with a propulsion system operating based on liquefied natural gas. The project was developed jointly by Sovcomflot and Shell, with the aim of minimizing harmful emissions to the atmosphere. The vessels will be used by Shell for the transportation of Russian oil.

It is assumed that the first vessel from the order will be delivered in the third quarter of 2018 and the fourth one — in the first quarter of 2019.

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