Vitol, StanChart JV orders VLCC quartet

Elandra Tankers, the Singapore-based joint venture between Vitol and Standard Chartered, has inked a contract with South Korea’s Hyundai Heavy Industries for four VLCCs. The 300,000 dwt ships will deliver in 2020. No price has been disclosed.

Brokers Intermodal noted in their most recent weekly report that this latest order takes the number of VLCCs ordered around the world this year to around 30, surpassing the 25 confirmed VLCCs sent for demolition.

“[W]e see that the trend of equally strong scrapping and ordering continues at least for now,” Intermodal noted.

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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