https://splash247.com/onex-in-for-mr-newbuilds-at-hyundai-mipo/

UAE-based Onex DMCC, a prominent trader of oil and petroleum products, has finalized plans to expand its fleet with two new medium-range product tankers. The vessels, each with a capacity of 50,000 deadweight tons (dwt), are being built at Hyundai Mipo Dockyard in Ulsan, South Korea, at an estimated cost of $53.5 million each. Sources from within the shipbuilding industry have confirmed this contract, highlighting Onex DMCC's strategic investment in enhancing its shipping capabilities.

The order, placed by an undisclosed Middle Eastern entity, was disclosed recently by HD Korea Shipbuilding & Offshore Engineering, overseeing shipyards under South Korea’s conglomerate HD Hyundai. These newbuilds are scheduled to be equipped with scrubber systems and are slated for delivery in 2026. They will augment Onex DMCC’s existing fleet, which currently includes five tankers, including three LR2s delivered from Hyundai Samho Heavy Industries in 2021.This expansion underscores Onex DMCC’s commitment to bolstering its maritime operations amidst growing demand and regulatory developments within the global shipping industry. The addition of these modern vessels is expected to further strengthen Onex DMCC's position in the competitive oil and petroleum products trading market.