South Korea’s Hyundai Heavy Industries (HHI) has notched up its first ship contracts of the year.
DHT Holdings, which this week has been eyed as an acquisition by John Fredriksen’s Frontline, has signed on for two big VLCCs. The 319,000 dwt pair are costing a total of $167m and will deliver in July and September next year, a very prompt delivery time illustrative of the short orderbook at the world’s largest shipbuilder.
DHT recently deferred delivery of another HHI VLCC from last year to this month.
The tanker firm estimates that its value as greater than that in the weekend’s unsolicited offer from Frontline.
In an earnings call DHT put its net asset value at $5.70 per share, as compared with the $5.09 per share of Frontline’s non-binding all-share offer. But the company’s management made no further comment on the Frontline bid.