H-Line orders VLCC brace at Hyundai Heavy

Brokers are reporting South Korea’s H-Line Shipping has put pen to paper for a pair of 300,000 dwt VLCCs at compatriot yard Hyundai Heavy Industries. The ships are costing $85m each and are scheduled for delivery next year.

The Tier III ships come on the back of long term time charters to local oil conglomerate GS Caltex.

H-Line took much of the rump of the dry and wet bulk tonnage from local peers Hanjin Shipping and Hyundai Merchant Marine since its founding in 2014. Its fleet today has 43 bulkers and tankers trading plus another seven LNG carriers.

For HHI, the latest orders cement a very solid start to 2018, putting the world’s largest shipbuilder on course to crack its annual targets.

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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