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.
