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STX Offshore & Shipbuilding Obtains Contract for 4 Mid-size Oil Tankers
New Contract, Finally
STX Offshore & Shipbuilding Obtains Contract for 4 Mid-size Oil Tankers
  • By Jung Min-hee
  • September 25, 2015, 01:00
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LR1 tanker built and delivered by STX Offshore & Shipbuilding.
LR1 tanker built and delivered by STX Offshore & Shipbuilding.

 

STX Offshore & Shipbuilding added four LR1 mid-size oil tankers to its order backlog. These days, the company is enjoying a very high share in the market segment of 74,000-ton LR1 tankers, based on the high fuel economy of its vessels.

STX Offshore & Shipbuilding announced on Sept. 24 that it recently signed a contract with a Greek shipowner to supply four LR1 tankers, including two as options. Option contracts, which are added later depending on shipowner conditions, tend to lead to actual contracts in most cases.

The vessels are scheduled to be built in the shipyard of STX located in South Gyeongsang Province and then delivered by the second half of 2017. The price has not been disclosed at the request of the shipowner.

A total of LR1 tanker orders have been placed around the world since the beginning of this year and STX Offshore & Shipbuilding has obtained 14 of them. Up to now, the company has delivered no less than 53 LR1 tankers. “The popularity of our vessels, characterized by minimized exhaust gas emissions and improved fuel economy, is on the rise nowadays,” it explained.