Oil Trader Vitol Places LPG Ship Order at Hyundai Heavy

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July 30, 2017

Shipyard of Hyundai Heavy Industries is seen in Ulsan, about 410 km (255 miles) southeast of Seoul June 28, 2013. REUTERS/Lee Jae-Won

ReutersSEOUL, July 30 (Reuters) – South Korea’s Hyundai Heavy Industries Co has won a contract worth up to $600 million from Vitol, the world’s largest independent oil trader, for as many as eight gas tankers.

The world’s largest shipbuilder signed the contract on Sunday to construct two liquefied petroleum gas (LPG) tankers with a capacity of 84,000 cubic metres each. The ships are expected to be delivered in the first half of 2019.

Vitol has the option to order six more tankers.

(Reporting by Haejin Choi; Editing by Kim Coghill)

(c) Copyright Thomson Reuters 2017.

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