[ New VLCC, the Hyundai Star ]

On December 14, HMM took delivery of a new VLCC, the Hyundai Star, whi
ch was built beginning in July 1993 by Hyundai Heavy Industries Co., L
td.. HMM held an offering to the spirits to wish the Hyundai Star safe
and accident free operation.
The Hyundai Star is sheduled to transport crude oil from the Middle Ea
st to Korea under a contract with the Hyundai Oil Refinery Co., Ltd.,
for 15 years. She will carry about 265,000 tons of oil on eight voyage
s, transporting a total of 2,120,000 tons of oil during the 15 years.
In 1976, the company started its business with three VLCCs, the Korea
Banner. In 1993 the company disposed of the three VLCCs because they h
ad become obsolete and from that time it brgan transporting oil on cha
rtered vessels.
The ship is equipped with an emergency towing system, which can safely
tow the vessel when she strikes a rock or when a generator is out of
order, and a self-loading system, which can prevent the danger of oil
leakage.
In February 1996 the company is to take delievry of another VLCCof the
same class as the Hyundai Star and plans to continue to place orders
to build VLCCs.