H-Line Shipping

South Korean shipowner and operator H-Line Shipping sold 1997 built capesize bulk carrier 149K DWT MV Keoyang Orient for demolition. Seoul-based H-Line Shipping sold MV Keoyang Orient for green recycling. H-Line Shipping had made a promise to green recycling through the sale of MV Keoyang Orient. H-Line Shipping supports green shipping. MV Keoyang Orient deal was brokered by GMS. The prices being proposed by the ship recyclers from the subcontinent remained robust with a constant demand from Pakistan and India to secure demolition ships. Currently, South Korean shipowner and operator H-Line Shipping has 43 bulk carriers. 29-April-2022

 

South Korean shipowner and operator H-Line Shipping and Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) have established a joint venture won Rio Tinto’s charter tender for twelve (12) large LNG-fuelled bulk carrier new-buildings. H-Line Shipping will order three (3) firm 210K DWT LNG-fuelled newcastlemax bulk carrier new-buildings with three (3) options. Eastern Pacific Shipping (EPS) will order three (3) firm 210K DWT LNG-fuelled newcastlemax bulk carrier new-buildings with three (3) options. Rio Tinto is the third mining company, after BHP and Anglo American, to move into LNG-fuelled bulk carrier new-buildings. Rio Tinto is going to charter in the 210K DWT LNG-fuelled newcastlemax bulk carrier new-buildings for five (5) to seven (7) years with options to extend from H-Line Shipping and Eastern Pacific Shipping (EPS). 210K DWT LNG-fuelled newcastlemax bulk carrier new-buildings will carry iron ore from Australia to China. South Korean shipowner and operator H-Line Shipping and Singapore-based shipowner and operator Eastern Pacific Shipping (EPS) will start to take delivery of 210K DWT LNG-fuelled newcastlemax bulk carrier new-buildings in Q3 2023. H-Line Shipping and Eastern Pacific Shipping (EPS) will pay $67 million for each 210K DWT LNG-fuelled bulk carrier new-building. In 2018, South Korean shipowner and operator H-Line Shipping ordered two (2) 180K DWT LNG-fuelled capesize bulk carriers at Hyundai Samho Heavy Industries on the back of long-term charters to POSCO. 14-April-2021

 

Hyundai Glovis chartered in bulk carriers from South Korean shipowner and operator H-Line Shipping. Charter details have not yet been disclosed. Hyundai Glovis chartered in for LNG-fuelled bulk carriers to ship iron ore for Posco and BHP Billiton. Hyundai Glovis chartered in two (2) LNG-fuelled capesize bulk carriers that compatriot H-Line Shipping ordered at Hyundai Samho Heavy Industries in June 2019. Seoul-based H-Line Shipping’s two (2) 180K DWT LNG-fuelled capesize bulk carriers will carry iron ore from Australia to South Korea. Seoul-based Hyundai Steel had granted COA (contracts of affreightment) to compatriot ship operator Hyundai Glovis. Both Hyundai Glovis and Hyundai Steel are subsidiaries of Hyundai Motor Group. In turn, Hyundai Glovis chartered two (2) 180K DWT LNG-fuelled capesize bulk carriers from H-Line Shipping.South Korean shipowner and operator H-Line Shipping usually does not comment on market reports. In 2018, H-Line Shipping ordered similar two (2) 180K DWT LNG-fuelled capesize bulk carriers at Hyundai Samho Heavy Industries. Two (2) 180K DWT LNG-fuelled capesize bulk carriers chartered out on long-term employment to Posco. South Korean shipowner and operator H-Line Shipping will obtain between 3.5%-5% of the new building LNG-fuelled capesize bulk carrier price from South Korea’s Ministry of Oceans and Fisheries’ Green Fund, to support the company meet IMO (International Maritime Organization) 2020 fuel requirements. Australian mining giant BHP lately initiated a tender to charter LNG-fuelled bulk carriers. 1-October-2019

 

South Korean shipowner and operator H-Line Shipping ordered two (2) more LNG-fuelled capesize bulk carriers at Hyundai Samho Heavy Industries. Seoul-based H-Line Shipping will take the delivery of two (2) LNG-fuelled capesize bulk carriers in 2022. H-Line Shipping will operate LNG-fuelled capesize bulk carriers between South Korea and Australia. In October 2018, H-Line Shipping ordered two (2) LNG-fuelled capesize bulk carriers for delivery in 2020. Currently, South Korean shipowner and operator H-Line Shipping owns and operates 36 bulk carriers and LNG carriers. 11-July-2019

 

Over-supply of new building ships, shortage of finance, and IMO (International Maritime Organization) 2020 Regulations are holding back new building orders. Bulk carrier newbuilding orders are running at half of 2018’s level. Low new building orders are quite an optimistic thing. Furthermore, with the iron ore production issues in Brazil, many nations try to lower coal use and the general slowing international economy. In 2019, most bulk carrier newbuilding orders are large bulk carriers booked predominantly by Asian shipowners and contracted against long-term charters or COA (contracts of affreightment). China Shipping Bulk signed up for 20 newcastlemax bulk carriers to fulfill a bauxite agreement with Chalco. South Korean shipowner and operator H-Line Shipping ordered two (2) VLOCs (Very Large Ore Carriers) to carry iron ore for Vale. Furthermore, there is a shortage of capital, as the shipping market has been poor already for many years, so shipowners do not have much extra cash left, and private equity and financial markets do not have much desire to finance more in shipping. IMO (International Maritime Organization) Tier III Regulations also indicate that new ships offer less value for money than those built a few years ago. In 2018, most shipowners were somewhat hopeful about a market recovery 2019. 8-July-2019

 

Seoul-based private equity firm Hahn & Co has been planning to sell $4 billion worth of stake in South Korean shipowner and operator H-Line Shipping. Seoul-based private equity firm Hahn & Co has been planning partial or full disposal. Seoul-based H-Line Shipping could be valued at between $3.5 billion and $4 billion including debt. Investors want to cash out and Seoul-based private equity firm Hahn & Co has commenced sounding out shipowners and other funds to estimate interest. South Korean shipowner and operator H-Line Shipping was formed in 2014 after Hahn & Co took over the non-container vessel interests of Hanjin Shipping, which later went bankrupt. In 2016, Hahn & Co acquired the bulk carrier business of another Korean Shipowner HMM. Furthermore, in 2018, Hahn & Co acquired Seoul-based SK Shipping. Currently, Seoul-based H-Line Shipping owns a mixed fleet of 30 ships and 9 ships on order. 3-June-2019

 

South Korean shipowner and operator H-Line Shipping ordered two (2) 208K DWT newcastlemax bulk carriers at New Times Shipbuilding. Seoul-based H-Line Shipping secured employment with Brazilian mining giant Vale. South Korean shipowner and operator H-Line Shipping will pay over $100 million. With the latest order, Seoul-based H-Line Shipping now has five (5) newcastlemax bulk carriers booked at New Times Shipbuilding. The other three (3) newbuilding newcastlemax bulk carriers were ordered at the end of 2018. H-Line Shipping will take the delivery of three (3) new building newcastlemax bulk carriers in Q4 2020. South Korean shipowner and operator H-Line Shipping secured employment on a five-year COA (Contracts of Affreightment) from mining giant Vale. South Korean shipowner and operator H-Line Shipping ordered newcastlemax bulk carriers according to IMO (International Maritime Organization) Tier III standards. Seoul-based shipowner and operator H-Line Shipping will be paying around $54 million for each newcastlemax bulk carrier. Furthermore, Seoul-based shipowner and operator H-Line Shipping has a pair of 325K DWT VLOCs (Very Large Ore Carriers) under construction at Hyundai Heavy Industries (HHI). H-Line Shipping ordered the VLOCs (Very Large Ore Carriers) in Q4 2017 on the back of a long-term COA (Contracts of Affreightment) of 25 years with mining giant Vale. Seoul-based shipowner and operator H-Line Shipping will pay more than $80 million for each VLOC (Very Large Ore Carrier). H-Line Shipping will take delivery of VLOCs (Very Large Ore Carriers) between Q4 2019 and Q2 2020. Furthermore, Seoul-based H-Line Shipping ordered two (2) LNG-fuelled 180K DWT capesize bulk carriers Hyundai Heavy Industries (HHI). Two (2) LNG-fuelled 180K DWT capesize bulk carriers will be replacing older bulk carriers committed to steel-maker Posco. H-Line Shipping will take delivery of two (2) LNG-fuelled 180K DWT capesize bulk carriers in Q2 2020. Currently, South Korean shipowner and operator H-Line Shipping is the only shipping company to have ordered LNG-fuelled capesize bulk carriers. South Korean shipowner and operator H-Line Shipping was established in 2014 when South Korean private equity firm Hahn & Co acquired 78% of Hanjin Shipping’s bulk shipping business for around $256 million. Furthermore, in 2017, South Korean private equity firm Hahn & Co acquired Hyundai Merchant Marine’s bulker fleet. Currently, South Korean shipowner and operator H-Line Shipping owns and operates 43 bulk carriers and 7 LNG carriers. 8-May-2019

 

South Korean shipowner and operator H-Line Shipping send demolition 1993 built capesize bullk carrier 208K DWT MV Pos Dedicator for about $10 million to Pakistan Scrapyard. Furthermore, H-Line Shipping send demolition 1992 built capesize bullk carrier 149K DWT MV Pos Harvestor for around $7 million to Pakistan Scrapyard. Earlier in 2017, South Korean shipowner and operator H-Line Shipping sold three (3) capesize dry bulk carriers for demolition. 3-December-2017

 

Seoul based H-Line Shipping send demolition 1992 built capesize dry bulk carrier 148K DWT MV Pos Challenger for $375 per ltd (light displacement tonnage) or $6.6 million to Indian Scrapyard. Demolition ship prices falling and recently dry bulk carriers were sold for close to $400 per ldt (light displacement tonnage). In April 2017, shipowner and operator H-Line Shipping sold similar1992 built capesize bulk carrier 151K DWT for $398 per Idt (light displacement tonnage) or $7 million. Currently, Korean shipowner H-Line Shipping is a dominant capesize operator and has a fleet of 32 ships. 7-May-2017

 

South Korean based H-Line Shipping, which was established two (2) years ago from Hanjin Shipping’s Bulkers was spun off, is planning to buy 2 two newcastlemax new-buildings under construction in China for Wilbur Ross’s Transport Recovery Fund (TRF). South Korean based H-Line Shipping is going to buy two (2) newcastlemax new-buildings for $34 million each. Seoul based shipowner H-Line Shipping is targeting new contracts from Korean POSCO and KEPCO. Currently, H-Line Shipping has 21 capesize bulk carriers in its fleet. In 2016, H-Line Shipping sold MV Pos Bravery, MV Pos Ambition, and MV Goodwill for scrap. 14-August-2016