Pan Ocean orders LNG carrier

South Korean owner Pan Ocean has announced that the company is investing KRW204bn ($190m) in the construction of an LNG carrier to expand its LNG business.

Delivery of the vessel is expected before end of April of 2023. Other contract details, including the yard, were not disclosed.

Pan Ocean, which is primarily involved in dry bulk business, currently has one 153,600 cu m LNG carrier in its fleet.

Pan Ocean posted a net profit of $35.3m for the third quarter of 2020, a decline of 23.7% from year-on-year.

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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