Korea Shipping Corporation (KSC)

13-March-2019

Korea Shipping Corporation (KSC) subsidiary Korea Line Corporation (KLC) sold another 1994 built capesize dry bulk carrier 148K DWT MV Goonzaran for demolition $421 per ldt or $7.4 million. MV Goonzaran is due for a special survey (SS) in December 2019. Korean ship owner and operator Korea Line Corporation (KLC) has a fleet of 15 capesize dry bulk carriers with an average age of 9 years. In May 2018, Korea Line sold 1993 built capesize dry bulk carrier 149K DWT MV Boryeong for demolition in Pakistan for $8 million. In February 2019, Korea Line Corporation (KLC) sold 1994 built capesize dry bulk carrier 151K DWT MV Dangjin Friendship for demolition in Bangladesh for $445 per ldt.

27-June-2018

Korean shipowner and operator Korea Shipping Corp (KSC) has ordered 2 handy bulk self-unloading dry-bulk carriers 29K DWT at Korean Shipyard Daesun Shipbuilding & Marine Engineering. 2 handy bulk self-unloading dry-bulk carriers 29K DWT are costing $33 million due to self-unloading configuration. Self-unloading dry bulk carriers will be delivered in January 2020. Korea Shipping Corp’s subsidiary of the Samla Midas Group has ordered 2 self-unloading dry bulk carriers on the back of long-term consecutive voyage charters (CVC) from a local power company. In May 2018, Korean shipowner and operator Korea Shipping Corp (KSC) had won a 25-year consecutive voyage charter (CVC) from Korea Midland Power Co (KOMIPO) to transport coal between the Boryoung Power Plant and the New Sacheon Power Plant.

Samsun Logix changed its name to Korea Shipping Corporation (KSC) after emerging from court receivership in 2016. Samla Midas Group (SM) became a major shareholder of Samsun Logix when Korea Line Corporation (KLC) won a legal suit of $55 million against the bankrupted company over the redelivery of a capesize bulk carrier. $55 million was converted into 39.9% of Samsun Logix shares. Samla Midas Group (SM) bumped its stake up to 74% by acquiring shares from other investors such as SC Lowry. Korean shipowner and operator Korea Shipping Corporation (KSC) currently owns a fleet of 9 dry bulk carriers and 17 containerships.

20-February-2018

Korea Shipping Corporation (KSC) subsidiary, Seoul-listed shipowner, and operator Korea Line Corporation (KLC) confirmed signing of two Contracts of Affreightment (COAs) with Brazilian iron ore giant Vale. Korea Line Corp contracts with Vale will run until 2045 and two contracts are worth over $600 million in total. Contracts of Affreightment (COAs) are due to start on 1 January 2020 for the carriage of iron ore between Brazil and Yangzhou. For these Contracts of Affreightment (COAs), shipowner and operator Korea Line Corporation (KLC) has ordered two VLOCs (Very Large Ore Carriers) 325K DWT at compatriot shipyard Hyundai Heavy Industries. Each VLOCs (Very Large Ore Carriers) is worth around $82 million.

2-May-2017

Korea Shipping Corporation (KSC) subsidiary, Seoul-listed shipowner, and operator Korea Line Corporation (KLC) ordered 4 dry bulk carriers for $98 million. Each handymax dry bulk carrier has a price tag of $24 million which will be delivered till 2020. Korea Line Corporation (KLC) subsidiary Korea Shipping Corporation will use these handymax dry bulk carriers for coal transport.

24-August-2016

Korea Shipping Corporation (KSC) subsidiary, Seoul-listed shipowner, and operator Korea Line Corporation (KLC) send demolition 1991 built handy bulk carrier 38K DWT MV Delta Pride to the scrapyard in Bangladesh for about $2 million.

22-August-2016

Korea Shipping Corporation (KSC) subsidiary Korea Line Corporation (KLC) is selling an 8-year-old supramax bulk carrier. Korea Line Corporation (KLC) sold 2008 built supramax bulk carrier 56K DWT MV Sanbay for about $6 million. MV Sanbay was on time charter to Hayne Shipping at $4,900 per day. On the other hand, Korea Line Corporation (KLC) is buying 2002 built panamax bulk carrier 72K DWT MV Matilde Corrado for about $5 million from Gestion Maritime. Seoul based Korea Line Corporation (KLC) has a fleet of 20 bulkers.