Korea Lines orders two VLCCs at Hyundai Heavy
South Korean shipping firm Korea Line Corporation (KLC) has placed an order for two new very large crude carriers(VLCC) at country's biggest yard, Hyundai Heavy Industries (HHI), and the company will explore further collaborations with the country's shipbuilders. According to Yonhap news agency, the new VLCCs are expected to have been delivered by the 2020. The total amount of the agreement will amount at 185.6 billion won (US$173 million). The carriers, which can hold 300,000 tons of crude oil each, will be used in transporting petroleum for GS-Caltex Corp., the second-largest refiner in South Korea, the report said, quoting Korea Line. The company recently signed a long-term deal with GS-Caltex to ship crude oil.
Korea Lines Upgrades Navigation Package
Thomas Gunn is delighted to announce that Korea Lines, the marine transportation services company, is the latest ship owner to choose new Voyager 4 for its navigation requirements. It will be upgrading four LNG gas carriers from Voyager 3 to the new Voyager 4 digital chart management system with immediate effect. When asked why Korea Lines selected Voyager 4, Mr Cho Han-Ung, Principal Superintendent, Fleet Management Team 2 explained, “We needed a navigation solution which would best serve the needs of the internationally trading vessels operating within our fleet.
Eagle Bulk Shipping Inc. Reaches Agreement With Korea Lines Corporation
NEW YORK, March 25, 2011 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (Nasdaq:EGLE) ("Eagle Bulk") announced today that it has reached a comprehensive agreement with the Receivers of Korea Line Corporation ("KLC") regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership earlier this year. The agreement follows extensive and highly constructive dialogue between the two parties. -- Charter rates on ten vessels have been adjusted to $17,000 per vessel per day.
