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Hyundai Samho bags Middle Eastern suezmax orders

South Korea’s Hyundai Samho Heavy Industries has bagged an order for a pair of 158,000 dwt coated suezmaxes from (AMPTC), both with a very early delivery date of next year. This order follows on from an original pair ordered in January 2015. AMPTC is thought to be paying $130m for the latest tanker duo.

AMPPTC is a pan-Arab line, founded in 1973, with a fleet including LPG, product and crude carriers.

The early delivery date – just 18 months away is symptomatic of Korean yards failing to get expected offshore, LNG and big boxship orders in the past 18 months, leading to cheaper, early tanker slots, something that worries a number of tanker owners and formed a plank of debate at last week’s Maritime CEO Forum.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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