South Korea’s shipbuilder K Shipbuilding (KSB) has been commissioned by Greece-headquartered marine drybulk transportation services provider Steelships to construct a pair of future-fit oil and chemical tankers.
According to Greek shipbroker Intermodal, the two medium-range 50,000 dwt product tankers are set to be built at the KSB Jinhae shipyard. The contract price for the vessels, which have been slated for a handover in 2027, has not been disclosed.
As disclosed, both tankers will be liquefied natural gas (LNG)-ready and methanol-ready, because of which they could accomplish ‘significant’ reductions in harmful pollutant emissions.
Specifically, a ship that runs on LNG is capable of slashing between 20-25% of carbon dioxide (CO2) emissions, whereas a vessel operating on methanol is estimated to cut between 5-15% of CO2, going up to nearly 100% for green methanol.
At present, Steelships is understood to operate seven bulk carriers. The company has also reported that it signed a letter of intent (LOI) with a shipyard with headquarters in China for the construction of a quartet of Ultramax newbuildings, entailing a 2+2 contract. The delivery date for these units has been marked down for the first and second quarter of 2026.
As per shipping association BIMCO, product tanker newbuild deliveries are anticipated to undergo a drastic jump this year and reach as many as 12 million deadweight tonnes (dwt) of units given over to their owners. The medium-range segment reportedly attracted the most orders.
A separate report from Intermodal backed this data, showing that, although numbers did experience a slight decline last year, 2025 is on a set path to break the record of the highest number of deliveries since 2009.
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In South Korea, the world’s second biggest shipbuilding nation, bookings for tankers have been just as steady. Among noteworthy deliveries in the next two years, HD Hyundai Mipo (HMD), part of HD Hyundai, is projected to roll out the red carpet for four product/chemical tankers signed under a $185 million deal by the end of November this year.
Moreover, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) is expected to hand over an oil tanker quartet by mid-December 2027, while Samsung Heavy Industries (SHI) and Greek shipowner Tsakos Energy Navigation (TEN) should mark the handover ceremonies for nine 158,000 dwt shuttle tankers in 2027 and 2029.