Korea Line orders VLOC pair at Hyundai Heavy

Korea Line orders VLOC pair at Hyundai Heavy

Korea Line Corporation has announced today that it has placed an order with Hyundai Heavy Industries for the construction of two VLOCs.

The total value of the deal is KRW185bn ($184m), and the two 325,000 dwt vessels will be deployed to transport iron ore for Brazilian miner Vale under a COA deal. Delivery of the vessels are scheduled in the fourth quarter of 2019 and the first quarter of 2020.

The vessels will be the largest vessels in Korea Line’s fleet.

Vale has fixed COA deals, which have seen a series of VLOC newbuilding orders, with a number of Chinese and South Korean companies in the past few months.

Korea Line’s compatriot company Polaris Shipping ordered ten firm plus five option 325,000 dwt ore carriers at HHI in September and has already exercised the options this week.

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.

Related Posts