Tag: vlcc

vlcc

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Used vessels cost more than newbuilds, raising hopes for shipbuilding supercycle

The Middle East conflict and supply shortages are pushing secondhand vessel prices above those of newbuilds. While some in the industry hope that this reversal will lead to a repeat of the 2007 shipbuilding supercycle, others remain skeptical that it will widen into an all-vessel boom.

2026.6.26

Shipping company Sinokor's website [SCREEN CAPTURE]

Korean shipping company Sinokor reaps huge profits following Iran war

Amid severe turmoil in global energy markets caused by the war involving Iran, Korean shipping company Sinokor is reaping huge profits from its investment strategy in very large crude carriers (VLCCs), Bloomberg reported on Saturday.

2026.3.16

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Hanwha Ocean's Geoje shipyard in South Gyeongsang is seen on Nov. 27. [YONHAP]

Hanwha Ocean secures $255 million VLCC order for Oceania

Hanwha Ocean, the shipbuilding arm of Korea's chemical-to-defense Hanwha Group, said on Tuesday that it has secured an order worth 375.3 billion won ($255 million) to build two very large crude carriers (VLCCs) for a client in Oceania.

2025.12.2

A very large crude carrier. [HANWHA OCEAN]

Hanwha Ocean wins $515 million crude oil carrier order from Africa

Hanwha Ocean, the shipbuilding arm of Korea's chemical-to-defense conglomerate Hanwha Group, said Monday it has secured a 757.7 billion won ($515 million) order for oil carriers from a shipper in Africa.

2025.11.24

Hanwha Ocean's dual-fuel VLCC Eagle Ventura, set to be delivered to a Singaporean shipping company on Monday [HANWHA OCEAN]

Hanwha Ocean sets green technology standard with LNG carriers

Hanwha Ocean is at the forefront of LNG carrier production, with one in 4 LNG carriers currently in operation being a creation of Hanwha. The Geoje Shipyard has found itself busier than ever, driven by heightened environmental regulations.

2023.10.30

Korea Shipbuilding wins orders for two VLCCs

Korea Shipbuilding & Offshore Engineering said Monday that it has signed a 200 billion won ($179 million) deal with a European shipping firm to build two very large crude oil carriers (VLCCs).

2020.11.9