Daewoo Shipbuilding and Marine Engineering has secured orders to build four very large crude carriers for Malaysian tanker owner AET.

The 320,000dwt carriers will cost Daewoo between $105m and $110m each.

AET will receive the carriers in 2012 and 2013.

The shipping company is buying the carriers as a part of its fleet expansion, which includes the acquisition of 150 tankers, according to asiasis.com.

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By GlobalData