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Yara orders two ships from Korea

6:32 AM MST | December 18, 2013 | Ian Young

Yara says it has signed shipbuilding contracts with Hyundai Mipo Dockyard (Ulsan, South Korea) for the construction and delivery of two medium-size liquefied petroleum gas carriers with an expected cost per vessel of $51 million. The carriers will be used to transport ammonia. "Following an evaluation of current new-build and time-charter rates, Yara has chosen to build new vessels to cover part of its long-term transport requirement at attractive rates, meet stricter environmental regulations, and maintain flexibility to serve Yara's production...

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