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.