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Korea Line inks 1.27 tln-won shipping deal

All News 13:52 June 23, 2017

SEOUL, June 23 (Yonhap) -- Korea Line Corp., South Korea's No. 2 bulk carrier, said Friday that it has clinched a 1.27 trillion-won (US$1.15 billion) deal to transport liquefied natural gas (LNG).

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.

SM Group also has bought other companies, including TK Chemical and Namsun Aluminum.


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