Photo: Illustration; Source: Pixabay under CC0 Creative Commons license

KSS Line Orders Two VLGCs from Hyundai Heavy

South Korean shipping company KSS Line has placed an order for two very large gas carriers (VLGCs) with compatriot shipbuilder, Hyundai Heavy Industries.

The new vessels were ordered for a five-year charter contract signed with Dubai-based BGN International DMCC, KSS Line said in its stock exchange filings.

The scrubber-fitted 84,000 cbm units are scheduled for delivery in the second half of 2021.

KSS Line said that the investment for the shipbuilding contract is around KRW 180.6 billion (USD 148.9 million).

Earlier this year the parties signed a memorandum of understanding (MOU) to develop two new LPG carrier designs. KSS Line and Hyundai Heavy opted for the move in response to changes in the shipping industry and the LPG trading market.

World Maritime News Staff