Korea Line turns to HHI for pair of new VLCCs

Korea Line Corp has returned to Hyundai Heavy Industries for a pair of VLCC newbuildings.

Well-placed shipbuilding sources said the Seoul-headquartered shipowner and operator ordered the 300,000-dwt crude carriers on the back of long-term contracts of affreightment that it forged with compatriot refiner GS Caltex.

As TradeWinds reported earlier this week, the COA is worth KRW 210bn ($197m) and involves the shipment of crude from the Middle East to South Korea starting from the end of 2019.