HHI adds five VLOCs to Polaris deal

The HHI-built VLOC Stellar Banner was delivered to Polaris Shipping last year.

Hyundai Heavy Industries (HHI) has signed a US$400 million contract to build another five VLOC (very large ore carrier) vessels for South Korean shipowner Polaris Shipping.

The order was placed under an option contract signed last month when Polaris also ordered ten 320,000DWT VLOCs from HHI for US$800 million as part of a charter agreement with Brazil’s Vale.

The ships, which measure 340 metres in length, 62 metres in beam and 29.8 metres in height, will have an LNG Ready design to meet environmental regulations and reduce fuel consumption.

They will be equipped with a ballast water treatment system and a desulfurisation equipment scrubber.

The vessels are scheduled to be delivered by 2021.

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