Korea Line confirms VLCC order at Hyundai Heavy

South Korean shipping firm Korea Line has officially placed an order at compatriot yard Hyundai Heavy Industries for the construction of two VLCC newbuildings.

The total price for the contract is KRW185.6bn ($173m).

The contract is part of a COA contract Korea Line signed with domestic oil refining firm GS Caltex this month to provide oil transportion services between Korea and the Middle Ease from end of 2019 to early 2026.

Korea Line currently operates a fleet of 31 vessels comprising of 21 bulkers, 3 tankers, six LNG carriers and one car carrier.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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