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Korea Line Pens Charter with Shell Tankers for LNG Carrier Duo

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.

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