Cardiff Marine Orders Four Aframaxes from Hangtong

zoom China’s Jiangsu Hangtong shipyard informed today that it has signed a contract with Greek shipowner Cardiff Marine on construction of four 115,000 DWT Aframax oil tankers. Under the deal, which includes an option for two additional tankers of the same typee, Cardiff Marine is expected to take the delivery of the new ships in 2017. The tankers are designed by the Shanghai Merchant Ship Design Research Institute (SDARI). However, the value of the contract has not been disclosed. The announcement comes following broker reports that the Economou-led Cardiff Marine had ordered two Aframaxes of the same size at the yard back in July, pricing each tanker at USD 46.5 million. The four ships, whose order was confirmed today by the shipyard, are believed to be worth the same amount, putting the overall value of the contract at around USD 186 million. World Maritime News Staff