Polaris Shipping of South Korea, fresh from sealing a deal to buy four capesizes from Brazilian miner Vale, has now readjusted an order on home soil, marking its debut into the tanker trades.
Polaris has decided to switch an order for a pair of newcastlemax bulkers at Daehan Shipbuilding to two 112,000 dwt aframax tankers. Polaris will pay an additional $43m for the two tankers, which will deliver in 2018.
Earlier this month Polaris concluded a deal to buy four Vale capes. The deal clocks in at $140m, or $35m per ship. All ships will be delivered this month and next.