Oman orders ten VLCCs from Korea

The state-owned Oman Shipping Company has placed two contracts for a total of ten five VLCCs with two Korean shipbuilders. Both Daewoo Shipbuilding & Marine Engineering (DSME) and Hyundai Heavy Industries (HHI) will build five very large crude carriers each at a cost of about $1.5 billion. DSME will deliver its five units by April 2012 while HHI is scheduled to deliver the vessels by December 2011.

A senior official from Oman Shipping confirmed the orders saying that “Yes we have placed these orders, and it is part of our plans to expand out fleet.”