Korea Line Signs USD 1.15 bln LNG Shipping Deal from KOGAS
By Aiswarya Lakshmi
Friday, June 23, 2017
Korea Line Corporation (KLC) has secured a KRW 1.27 trillion (USD 1.1 billion) contract to transport liquefied natural gas (LNG) for its compatriot Korea Gas Corporation (KOGAS).
Yonhap reported that under the deal with Korea Gas Corp. (KOGAS), Korea Line will transport LNG through May 30, 2037, the company said in a regulatory filing.
Other details of the contract were not revealed. In 2013, Korea Line was taken over by SM Group, a midsized shipping group.
Korea Line currently operates some 30 vessels, hauling goods, such as iron, ore, crude oil and cars, and its financial status drastically improved after being taken over by SM Group.