Korea Line signs time-charter deal with Shell Tankers

KoreaLIne

Korea Line Corp., a midsized South Korean shipping company, said Friday that it has signed a US$307.4 million time-charter deal with Shell Tankers Singapore Private Ltd.

Korea Line said it is set to transport liquefied natural gas (LNG) for Shell Tankers with two carriers during a seven-year time-charter period starting Aug. 31, 2022.

The time-charter deal can be extended to up to 17 years if Shell Tankers Singapore exercises an option for up to two more LNG carriers.

Korea Line has yet to place an order for two LNG carriers, Korea Line manager Park Jun-sang said, without elaborating.

[yonhap]

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