The Greeks have worked out that tanker newbuild prices are likely to have hit rock bottom and they are moving to take advantage of the situation.
Victor Restis’s Enterprises Shipping and Trading (EST) is the latest Greek company to put pen to paper, coming in for two firm and three option suezmaxes at South Korea’s Hyundai Heavy Industries (HHI).
The vessels are scheduled for delivery in 2018 from HHI’s Ulsan yard. No price has been revealed but sources in South Korea suggest each ship has been contracted for $56m.
The order has been in the works for a long time, with Splash reporting in August about the lengthy negotiations it had taken to secure refund guarantees.
