An official at HHI confirmed that the deal will see HHI deliver the LPG carriers in the third and fourth quarters of 2013 respectively.

Sources estimated the newbuilding price to be $48-50m apiece.

Meanwhile, HHI, the world's largest shipbuilder, has promoted ceo and vice president Kim Oi-Hyun to ceo and president.

Newly promoted Kim is now heading the shipbuilding division and offshore & engineering division.

Also, executive director Kim Jong-Do has been appointed to the head of offshore business.

http://www.turkishmaritime.com.tr/