Polaris Shipping has ordered three very large ore carriers at compatriot South Korean yard Hyundai Heavy Industries (HHI) as it sets about rejuvenating its heavily criticized fleet.
Polaris has opted for 325,000 dwt designs at HHI. No price has been revealed for the new ships.
At the end of March the Stellar Daisy, an old converted ore carrier belonging to Polaris, sank in the South Atlantic with the loss of 22 lives. Since then a number of faults have been found on other elderly ships belonging to the Korean carrier.