Seoul: Korea Line Corp. (KLC) has outlined a short term development plan that will see a total of 1l ships added to its fleet, comprising four Capesize bulkers, six Handymax bulkers and one crude oil tanker.
All the bulkers are newbuildings ordered for completion in 2009-2010 while the tanker is a secondhand ship to be delivered this month. The total investment amounts to $677m.
The tanker is a single-hull 254,000-dwt VLCC completed in 1992, the Titan Taurus. The purchase price is given at $41 million. The VLCC is likely to be converted into a specialized ore carrier.
Come 2010 KLC will boast a fleet of 52 ships. [06/06/07]
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