KSS Line of Korea has announced through a regulatory filing on April 17 that it decided to invest in one 84,000 cbm very large gas carrier (VLGC) worth KRW 80.6bn ($72m).
KSS explained, “The investment decision has been made for securing a vessel in a medium-and long-term and strengthening sales capacity.”
KSS Line is planning to ink the investment contract on April 22 and be handed over the vessel by September 30, 2014.
According to an industry source, Hyundai Heavy Industries of Korea is said to have won one 84,000 cbm VLGC from KSS Line.
Meanwhile, KSS Line released a statement on April 17 that it signed a charter agreement for one VLGC with E1 to ship LPG for 10 years (from Sep 30, 2014 to Sep 30, 2024).