Hyundai Released Oil Tankers For Sakhalin-1

Hyundai Heavy Industries shipyard in South Korea Construction have finished the construction of three oil tankers with tonnage of 100,000 tons each.

The naming ceremony after which the tankers, whose total costs amounts to $150 million, were delivered to the customer took place on Monday, Nov. 21.

The tankers were ordered by Sovcomflot, Russia?s largest shipping company. The president of the shipping company Sergei Frank said that the tankers were designed and built specifically for transportation of oil within the framework of Sakhalin-1 oil and gas project, which is a large source of foreign investments in the Russian economy.

Hyundai Heavy Industries has already constructed about 40 tankers on orders from Sovcomflot. The South Korean company was established in 1972.