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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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