Spanish shipbuilder Navantia has inked a deal with its compatriot shipping company Ondimar Transportes Marítimos LDA, a subsidiary of the Ibaizabal group, to build four Suezmax tankers, including an option for two more.

The Spanish owner entered into an agreement in principle with Navantia for the order this May.

The start of construction of the 156,000dwt ships is scheduled for the fourth quarter of this year and the first tanker is to be delivered in late 2017.

The construction will take place at Navantia's yards in the Bay of Cadiz and the Ria de Ferrol.

To implement the deal, Navantia reached an agreement with Daewoo Engineering Division (DSEC), which brings its experience and know-how in building such vessels.