South Korea’s Daehan Shipbuilding has won a contract from Greek owner Tsakos Energy Navigation (TEN) for the construction of four to up to six dual-fuelled LNG-powered aframax tankers.
The order includes four firm 115,000 dwt crude oil tankers and two optional LR2 product tankers worth around KRW500bn ($418m) assuming all six ships are built. Daehan said the deal had been on hold for about four months due to a rise in cost due to steel prices that nearly doubled compared to last year.
Construction is scheduled to commence in September next year and the vessels will be delivered sequentially from September to December 2023. After delivery, the vessels should go on a long-term contract with Norway’s Equinor and generate revenues of around $350m.