KSS Line orders methanol-powered tanker for Waterfront Shipping charter

South Korean owner KSS Line has placed an order at domestic yard Hyundai Mipo for the construction of a 50,000 dwt methanol-powered MR tanker.

The order marks KSS Line’s entry into the MR tanker market, and when delivered will be the largest tanker in the company’s fleet.

The vessel will be chartered to Waterfront Shipping, the shipping unit of Canadian methanol producer Methanex, for a period of 14 years and 9 months after delivery in November 2022.

Waterfront Shipping has chartered a series of methanol-powered MR tanker newbuildings built at Hyundai Mipo from a number of owners including Marinvest, Iino Kaiun, NYK and Mitsui & Co.

KSS Line’s owned fleet is currently comprised of 15 LPG carriers and six small tankers with another five VLGCs on order.

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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