SK Shipping

1-October-2019

Korea Western Power (KWP) has signed an MOU (Memorandum of Understanding) with South Korean shipowners SK Shipping and H-Line Shipping to install scrubbers on its chartered bulk carriers.

Korea Western Power (KWP) is going to a premium freight rate in order to compensate South Korean shipowners SK Shipping and H-Line Shipping scrubber installation costs and shipyard expenses.

South Korean shipowner and operator SK Shipping has two (2) long-term contracts of affreightment (COA) with Korea Western Power (KWP). On the other hand, H-Line Shipping has three (3) long-term contracts of affreightment (COA) with Korea Western Power (KWP).

Korea Western Power (KWP) has aimed to reduce carbon emissions and comply with IMO’s 2020 regulations.

11-March-2019

South Korean shipowner and operator SK Shipping sold 1994 built capesize bulk carrier 150K DWT MV Compromise (ex MV K Promise) for scrap China for $7.6 million. MV Compromise (ex MV K Promise) is due for SS (Special Survey) in May 2020.

In 2009, South Korean shipowner and operator SK Shipping acquired MV Compromise (ex MV K Promise) for about $29 million.

2-February-2019

South Korean shipowner and operator SK Shipping send 1994 built capesize dry bulk carrier 150K DWT MV K Promise (ex MV Grand Fortune) to demolition for $423 per ldt, or $7.6 million. 150K DWT MV K Promise (ex MV Grand Fortune) sold as is in China and includes bunkers for its final voyage. MV K Promise (ex MV Grand Fortune) is the first capesize demolition deal of 2019.

South Korean shipowner and operator SK Shipping has 5 more capesize dry bulk carriers in its fleet. In 2009, SK Shipping bought the vessel as the MV Grand Fortune for $29 million.

31-March-2016

South Korean shipowner and operator SK Shipping has been trying to sell the entire bulk carrier fleet since last year. However, SK Shipping could not find any buyer due to the price difference. SK Shipping profit comes from tanker and gas carrier segments. Korean SK Shipping fleet consists of 10 capesize, 10 supramax, and 1 panamax bulk carriers.

19-November-2016

Greek shipowner Evangelos Marinakis has been buying more capesize dry bulk carriers from South Korean shipowner and operator SK Shipping. Greek shipowner Evangelos Marinakis’s shipping arm Capital Maritime and Trading bought capesize dry bulk carrier 2011 built 179K DWT MV K Endeavour and MV K Adventure for $22 million and 179K DWT 2012 built MV K Ambition for $23 million. In October 2016, Evangelos Marinakis bought capesize dry bulk carrier 2012 built 179K MV Gran Trader. In September 2016, Evangelos Marinakis bought capesize dry bulk carrier 2010 built 179K MV ER Boston.