HMD entered newbuilding contracts for four 46,000-dwt product tankers with Novorossiysk Shipping Company (Novoship) of Russia on May 14, 2002.

The vessels will have a length of 183m, a width of 32.3m, and a depth of 18.8m with service speed of 14.6 knots and are scheduled to be delivered in the first half of 2004.

Novoship already had a pair of Aframax tankers under construction at Samho Heavy Industries.