South Korea’s Korea Line Corp (KLC) looks set to be the next major shipowner to invest in VLCC newbuildings.
It has just secured a major contract of affreightment (COA) from domestic oil company GS Caltex, according to a regulatory filing.
The contract is worth KRW 210bn ($197m) and involves the shipment of crude from the Middle East to Korea starting from the end of 2019.
