MARCH 19, 2017 — Korean media report that Hyundai Heavy Industries Co has won a $240 million order to build four 114,000 dwt LNG fueled Aframax tankers for Russia's Sovcomflot.

To be built at the shipbuilder's Hyundai Samho Heavy Industries subsidiary, they are slated for deliveries starting in third quarter 2018.

The eco-friendly tankers have been jointly developed by Sovcomflot and Anglo-Dutch multinational Shell, which will use them to transport Russian crude oil.

Korea Post quotes Hyundai Heavy as saying that it was helped in winning the order by its moving to create a joint company with Russia's Far Eastern Shipbuilding and Ship Repair Center. The tie-up being pursed calls for joint projects in the design of commercial vessels and shipbuilding support.