Ray Car Carriers has moved deeper into the crude tanker sector, locking in four VLCC newbuildings at HD Hyundai in South Korea as owners rush to secure remaining large-tanker slots.
Industry sources said the Abraham Rami Ungar-controlled company is behind a fresh order disclosed by HD Korea Shipbuilding & Offshore Engineering late last week.
The deal covers four 300,000 dwt vessels priced at around $130m each, lifting the total package to roughly $520m.
The quartet will be built at HD Hyundai Samho Heavy Industries, with delivery stretching to 2029.
The Israeli owner, better known for its large footprint in the vehicle carrier market, is rapidly expanding its crude fleet. Ray Car Carriers already has four VLCCs booked at Samho for delivery by 2027 and controls another two acquired from Oslo-listed Hunter Group in 2022 at $95.5m apiece.
Its latest move comes as shipyards in South Korea and China continue to fill remaining VLCC berths, driven by a surge of contracting from Greek, Asian and Middle Eastern players. Newbuilding prices have hovered in the $120m–$130m range as owners chase modern tonnage ahead of tightening emissions rules.
Ray Car Carriers’ eight-ship VLCC programme at Samho now places it among the more aggressive entrants in the sector, marking a considerable diversification from its core car carrier business.
