Neda joins Greek VLCC rush

Neda joins Greek VLCC rush

The Greek rush for cheap VLCC newbuilds continues. Brokers report Neda Maritime Agency has contracted Hyundai Heavy Industries (HHI) to build one firm 319,000 dwt VLCC plus one option. No price has been revealed but recent deals in South Korea suggest Neda will not get much change from $80m per unit. The firm ship is due for delivery in the third quarter of 2018 and will be built at HHI’s sister yard, Hyundai Samho.

Neda has four aframaxes and six VLCCs on the tanker side of its business plus 15 bulkers.

Greek owners in the past five weeks have led a charge for VLCCs with a feeling that newbuild prices are finally flattening out.

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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