South Korean owner Pan Ocean is expanding its tanker orderbook with two VLCC newbuildings. The Harim Group-controlled diversified owner of more than 100 ships said in a stock exchange filing that it would be paying around $127.5m per vessel, although it has not yet disclosed the name of the shipyard. The shipbuilding contracts are expected to be finalised in June, with both VLCCs scheduled for delivery by the end of April 2028. The company said the vessels will feature dual-fuel capabilities, fit to operate on either LNG or ammonia. The move marks Pan Ocean’s first VLCC order since 2020, when it contracted Daewoo Shipbuilding & Marine Engineering, now Hanwha Ocean, for two 300,000 dwt tankers at about $90m apiece. The company already has a diversified orderbook that includes six MR tankers under construction at HD Hyundai yards and four ultramax bulkers being built at Japan’s Oshima Shipbuilding. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsSouth Korea