Korea Line to spin off LNG division

Korea Line Corporation is spinning off its gas fleet into a new company, effective May 1.

The company, part of the Samra Midas group that also owns containerline SM Line, said the move would help make Korea Line better at reacting to market developments.

According to VesselsValue, Korea Line has eight LNG carriers in its 42-strong fleet, all on charter to Kogas. The company is best known for its dry bulk activities, with the rest of the fleet made up of 26 bulkers, seven tankers and one car carrier.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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