Hyundai Samho Heavy Industries (HSHI), Hyundai Heavy Industries (HHI)’ shipbuilding affiliate, announced today that it recently won $130 million worth of order to build two 158,000 ton VLCCs from the European Shipping company.

The vessels, measuring 274 meters in length and 48 meters in width, are scheduled to be built at HSHI’s Yongam yard and delivered from the second half of 2020.

This year, HHI Group’s shipbuilding part set an annual order target of $ 15.9 billion, up 21% from last year and the highest since 2014.

According to Clarkson, global order volume is expected to rise to 34.4 million CGT this year, up 20% from 28.59 million CGT last year. The recovery is expected continue to rise by 2023 and reach 47.4 million CGT.