Hyundai Heavy Sheds More Light on Tanker Order

South Korean shipbuilder Hyundai Heavy Industries has shared more details on its newly secured contract to build two crude oil carriers.

The company had on Thursday issued a brief statement on the Korea Exchange sharing it had won contracts to build two tankers for a European client. The order value is 149,8 billion South Korean Won, or $122,2 million.

In a subsequent release issued on Friday on its website, Hyundai Heavy said the orders were secured for two 158,000-ton crude carriers.

"This contract includes two option contracts, so we expect further orders," Hyundai Heavy Industries said, but, as with its first announcement, it did not reveal the name of the client.

It did, however, share the tankers' dimension. The crude carriers will be 274m long, 48m wide, and 23.2m high each.

They will be built at Hyundai Heavy Industries in Ulsan and will be delivered by the early 2022.