AsiaDry Cargo

H-Line in for five VLOC resales

Allied Shipbroking is reporting five Polaris Shipping VLOCs under construction at Hyundai Heavy Industries have been snapped up by fellow Korean dry bulk operator, H-Line Shipping.

The five 325,000 dwt bulker giants are due for delivery from August through to April next year and formed part of Polaris’s fleet renewal programme, which has seen it scrap a swathe of converted ore carriers in recent months. 

All five ships come with 25-year contracts of affreightment with Brazilian miner, Vale, Polaris’s most important client. 

No price for the deal with H-Line has been revealed.

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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