KSS Line Secures Financing for Its VLGC

South Korean  LPG and chemical shipping company KSS Line has signed a financing deal with Korea Development Bank (KDB) for one of its newbuilds.

Under the deal, signed on February 26, 2015, KDB will provide financing for a 84,000 cbm very large gas carrier  (VLGC).

The value of the financing deal has not been disclosed.

KSS has one 84,000-cbm VLGC newbuilding under construction at Hyundai Heavy Industries (HHI) which is due for delivery in 2016. The VLGC is assigned on a seven-year-plus time-charter with Japanese trader Itochu.

Earlier this month KSS Line commissioned Hyundai Mipo Dockyard to build one 38,000 cbm LPG/ammonia carrier.

The new mid-size carrier will cost USD 52 million to build, and will join the Seoul-based shipper’s fleet in February 2017, according to the company’s latest announcement on the Korea Stock Exchange.

KSS Line has reportedly already chartered out the newbuild to an unnamed client from India.

The company operates 15 owned vessels in its fleet ranging from VLGCs, medium gas carriers (MGCs) to stainless steel chemical tankers.

World Maritime News Staff; Image: KSS


Share this article

Follow World Maritime News

In Depth>


<< Jul 2019 >>
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >