Having signed a long-term charter agreement with subsidiaries of Korea Electric Power Corporation of Korea (KEPCO), a consortium of Hyundai Merchant Marine of Korea-STX Pan Ocean and another consortium of Hanjin Shipping of Korea and SK Shipping of Korea are planning to choose builders for nine bulkers to transport bituminous coal within this week.
This project is about building a total of KRW 450bn ($397m) worth of nine 150,000 dwt bulkers at Korean shipyards and five domestic shipyards are reported to be participated in a tender, including Hanjin Heavy Industries, Daehan Shipbuilding, STX Offshore & Shipbuilding, Hyundai Samho Heavy Industries and so on.
Small and medium-sized shipbuilders, having struggled due to a lack of orders and a worse liquidity, are highly expected to win the tender as large builders and foreign shipyards are excluded from the bid for this newbuilding project.