Korea : VLCC orders for Daewoo and SHI

Korean yards, including the troubled Daewoo shipyard, have been awarded a number of VLCC contracts in the past month. Daewoo`s orders include a pair of 300,000 dwt tankers from Worldwide Shipping for delivery at the end of 2001 and in early 2002, respectively, while Hellespoint Steamship in Greece has ordered two 308,000 dwt, vessels with an option on a third from Samsung Heavy Industries (SHI).

The Embiricos Group completes the Greek owners ordering new VLCCs from Korea, and has also awarded Daewoo a contract for a 300,000 dwt vessel.