Hyundai expands tanker business

Hyundai expands tanker business    Hyundai Merchant Marine has bought one “aframax” tanker and two product tankers, saying that it made the investment because of the increased demand for petroleum products in China and Europe.
   The Korean shipping group, which has now improved its financial results, will take delivery of the aframax tanker in January and the two 49,700-deadweight-ton product carriers in April and July, of next year, respectively.
   “Hyundai Merchant Marine has substantially strengthened its tanker investment by securing a total of eight tankers this year alone,” it said.
   Hyundai ordered two very large crude carriers (VLCCs) last November. The group now owns 27 crude oil carriers, of which 18 are VLCCs.