Korea Line ordering another pair of VLCCs

Korea Line ordering another pair of VLCCs

Korea Line is ordering a pair of VLCCs just days after it ordered two VLCC newbuildings at domestic yard Hyundai Heavy Industries as part of a COA contract signed with oil refiner GS Caltex.

The latest two VLCCs will be used to transport oil for another domestic refining firm S-Oil Corporation. An official order is expected to be placed at a domestic yard soon.

Korea Line won a five-year oil shipping contract from S-Oil this week, running from June 2019 and valued at KRW210.49bn ($197.4m).

Korea Line currently operates a fleet of 31 vessels comprised of 21 bulkers, three tankers, six LNG carriers and a 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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