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Monday, September 16, 2019

Gs Caltex News

Debasish Mohapatra (Photo: OSC)

Oman Shipping: Strong Domestic Performance

Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.

Very Large Crude Oil Carrier. Photo: Daewoo Shipbuilding and Marine Engineering

Hyundai Merchant Marine Gets $420 Mln to Add 5 VLCCs

South Korea’s leading sea carrier Hyundai Merchant Marine Co. (HMM) has signed a financial contract with Korea Shipping and Maritime Transportation to build five 300,000-ton very large crude carriers (VLCCs), said a report in Business Korea. HMM has secured $420 million (470 billion won) through a state shipbuilding subsidy funding program, it said. The order has already been placed with local shipyard Daewoo Shipbuilding and Marine Engineering (DSME) September last year. The…

Photo: Hyundai Heavy Industries (HHI)

Korea Lines orders two VLCCs at Hyundai Heavy

South Korean shipping firm Korea Line Corporation (KLC) has placed an order for two new very large crude carriers(VLCC) at country's biggest yard, Hyundai Heavy Industries (HHI), and the company will explore further collaborations with the country's shipbuilders. According to Yonhap news agency, the new VLCCs are expected to have been delivered by the  2020. The total amount of the agreement will amount at 185.6 billion won (US$173 million). The carriers, which can hold 300,000 tons of crude oil each…

Photo: Hyundai Merchant Marine

Hyundai Merchant Marine, GS Caltex Ink Crude Oil Deal

South Korean shipping company Hyundai Merchant Marine (HMM) has signed a long-term crude oil shipping contract with compatriot oil refiner GS Caltex. A press release from HMM said that the KRW190 billion (USD 180 million) contract will involve the transportation of 19 million tonnes of crude oil from Saudi Arabia and the Gulf from July 2019 to August 2024. Accordingly, HMM plans to deploy two 300,000 dwt Very Large Crude Carriers (VLCC) which were previously ordered last September. C.K. Meanwhile, HMM has continued its partnership with GS Caltex over 20 years in crude oil shipping business.