Korea Line chooses Chengxi to build bulker quartet

Korea Line chooses Chengxi to build bulker quartet

Korea Line Corporation has revealed where it placed orders recently for a quartet of bulkers, news that will infuriate yards on home soil desperate for business. Korea Line has chosen Chengxi Shipyard, part of China’s state-backed CSSC conglomerate to build the four 82,000 dwt ships at a reported price of $24.5m each.

The Korean shipowner said, “Thanks to the unprecedented low price, we could secure eco-friendly and highly efficient vessels in order to enter into long-term contracts for bituminous coal.”

Korea Line is owned by Samra Midas Group, a construction firm that also owns SM Line, the world’s newest containerline.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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