BP Shipping Places $573.4 Million Newbuild Order with Hyundai Mipo

hyundai mipo dockyardIn an exchange filing today, Hyundai Mipo Dockyard in South Korea announced  602.7 billion KRW ($573.4 million) order from BP Shipping for fourteen product tankers.

The period of the construction contract extends to July 2017.

This order is part of “Project Neptune” a fleet rejuvenation program that BP is launching this year.

Established in 1915, BP Shipping’s fleet is comprised of more than 50 vessels – from crude and LNG carriers to shuttle tankers and offshore supply vessels.