HMM charters VLCC newbuilding trio

South Korean shipping company HMM has chartered the three very large crude carriers (VLCC) set to be built by Hyundai Samho Heavy Industries, a subsidiary of Korea Shipbuilding & Offshore Engineering Co.

The KRW 298.8 billion ($268.9 million) contract for the construction of the newbuilds was announced last week.

The order has been secured from an unnamed shipowner based in Asia with the deliveries slated for 2022. The owner of the ships remains undisclosed.

HMM confirmed to Offshore Energy – Green Marine that the three 300,000-ton VLCCs would be taken on a ten-year voyage contract signed with South Korean oil refiner GS Caltex.

The ten-year contract is worth KRW 630 billion (Approx. $560 million).

The contract period is 1 July 2022 ~ 1 July 2032.

  “Partnership between HMM and GS Caltex for the transport of crude oil will continue,” HMM said in a statement.

HMM has five VLCCs in its fleet, built in 2019, and two Suezmax tankers, built in 2011. The shipowner provides transportation service of crude oil from the Middle East and West Africa to the Far East, United States and Europe.