Sungdong Shipbuilding has won its first order since December 2015, likely sparing it from oblivion.
Greece’s Kyklades Maritime is linked with a big aframax order, putting pen to paper for five firm plus two options of 115,000 dwt tankers. The price per ship has been reported as $44m.
Sungdong’s creditors commented, “With this order, the company escaped from the worst of the crisis. This order, clinched on favourable terms, will contribute to improving the profitability of the shipyard.”
Sungdong is understood to be in advanced negotiations with two other owners for a total of four more tankers.
