Hunter Tankers receives delivery of Hunter Laga from DSME

4 November 2019 (Last Updated November 4th, 2019 12:07)

Hunter Group subsidiary Hunter Tankers has received the third ECO-design very large crude carrier (VLCC) Hunter Laga from Daewoo Shipbuilding & Marine Engineering (DSME).

Hunter Tankers receives delivery of Hunter Laga from DSME
Hunter Tankers has received the third ECO-design VLCC Hunter Laga on 1 November. Credit: Shaah Shahidh.

Hunter Group subsidiary Hunter Tankers has received the third ECO-design very large crude carrier (VLCC) Hunter Laga from Daewoo Shipbuilding & Marine Engineering (DSME).

The delivery is a part of the seven identical vessels that DSME is building in South Korea. The other four vessels are expected to be delivered by July 2020.

To ensure full compliance with IMO 2020 regulations, the vessels are fitted with open-loop scrubber systems provided by Finnish marine technology firm Wärtsila.

The delivery follows a Bermuda-based ship holding, owning and chartering firm Ship Finance International (SFL) agreement signing with Hunter Group to purchase three VLCCs in September.

According to the agreement, Hunter Laga was delivered to and immediately bareboat chartered back from Ship Finance International.

According to the agreement, Ship Finance International will pay approximately $60m for each tanker and a total of $180m for all three VLCCs. The tankers are scheduled to be delivered within the next two months.

After the delivery, the vessels will begin a five-year charter agreement to Hunter Group with an option to acquire the ships during the charter period.

Hunter Laga will join the first two vessels Hunter Atla and Hunter Saga in the Tankers International Scrubber Pool and will start trading in the spot market.

In June, Norwegian ship management company OSM Maritime Group secured a contract from Hunter Group to provide technical management services for a fleet of ECO-design SMART VLCCs.

According to the contract, OSM will manage Hunter’s eight identical 336m vessels at its base in Arendal, Norway. The base provides specialist tanker services.