Polaris Orders 3 Iron Ore Carriers at Hyundai
By Aiswarya Lakshmi
June 7, 2017
South Korean shipping firm Polaris Shipping Co has placed an order with Hyundai Heavy Industries (HHI) to build three very large iron ore carriers, Yonhap reported.
Polaris said the 325,000-ton iron ore carriers will replace some of its aged ships. The financial details of the shipbuilding contract and delivery schedule for the newbuildings were not disclosed.
With the latest order from Polaris HHI's orderbook that was valued at $3.8bn in the first five months of 2017 will enlarge further.
Polaris has long-term contracts with the first-class charterers such as Vale, POSCO and subsidiaries of KEPCO.
A cargo ship operated by Polaris Shipping sank in the Atlantic Ocean in April this year with its crew still missing.
