Hyundai Heavy Industries is in final talks to sign a $120m contract with an unnamed Greek shipowner to build three commercial standard vessels.

The South Korean shipbuilder said it will construct three mid-size bulkers including Kamsarmax bulkers, according to

Hyundai is in need of fresh orders for its new Gunsan Shipyard which recently delivered its first two Capesize bulkers.

The vessels are expected to be delivered by the end of 2011.