Korea Line Pens Charter with Shell Tankers for LNG Carrier Duo

Shipping company Korea Line Corporation (KLC), part of Samra Midas Group, has signed a time charter contract for two LNG carriers with Shell Tankers (Singapore) Private Limited.

The deal is worth KRW 358.2 billion (about USD 307.3 million), the company said in a stock exchange filing on December 20.

As informed, Korea Line’s two LNG carriers will work for Shell Tankers during a charter period of seven years starting August 31, 2022.

The charter can be extended to up to 17 years if Shell Tankers exercises a contract option for up to two additional LNG tankers, the company added.

The two LNG carriers are yet to be ordered, Yonhap News Agency cited Korea Line manager Park Jun-sang as saying. He didn’t share any additional details.

However, in a stock exchange filing dated December 19, KLC announced a KRW 438.5 billion investment in two 174,000 cbm LNG carriers. The ships are expected to be delivered by the end of October 2022.

Korea Line has a fleet of more than 30 vessels comprising bulkers, tankers, LNG carriers and PCTC ships.

World Maritime News Staff