Hong Kong-based Cido Shipping is being linked to a fresh VLCC newbuilding deal at HD Hyundai’s Philippines yard.

Shipbuilding sources suggest the diversified owner has been tied to four 300,000 dwt tankers priced at around $130m each.

Delivery of the quartet is understood to be lined up between 2029 and 2030.

No official confirmation has been issued by the owner or the yard.

The reported deal would add to a heavy run of tanker ordering by Cido, which has been active across several ship types in recent years.

The company has already been linked to a string of tanker projects at HD Hyundai yards, including suezmaxes and product carriers.

Cido has also been connected to HD Hyundai’s revived Philippine shipbuilding operation at Subic, where the group has started work on LR2 product tanker newbuildings.

Splash reported in 2020 that Cido had ordered a pair of 300,000 dwt VLCCs at Hyundai Heavy Industries, marking its return to newbuilding after several years away from the market.