South Korea’s three biggest shipbuilders are set to challenge the “leading” Chinese companies in the battle for orders for Shell’s eight LNG powered VLCCs. Although the order, worth more than $700m, was financed by Chinese financial institutions, competition for each order has become a common goal for South Korea’s three giant shipbuilding companies, which are suffering from a shortage of orders.
Shell is negotiating financing plans with Minsheng Financial Leasing, ICBC Leasing and Bocomm Leasing, and plans to build LNG powered VLCCs. In other words, Shell’s VLCC orders are likely to be signed in the near future. The total value of the order is expected to exceed $700 million…
