SK Shipping acquires 1st VLOC

"K.HOPE"

Seoul-based carrier, SK Shipping, chalked up its first VLOC from Hyundai Samho Heavy Industries' South Korean shipyard on September 11.

The newly-built vessel has been christened as "K.HOPE" one the same day. With a length of 18 m, a width of 57 m and a dead weight tonnage of 250,000, "K.HOPE" is the first pram vessel in Korea.

Meanwhile, SK Shipping received its first benefit from the 'Green Ship Program' from Korea Finance Corporation (KoFC) on June 15. If the new VLOC meet the requirements of the Green Ship Program, KoFC supports unsubordinated shipping finance of 70% for the ship.

"K.HOPE" has been recognized as eco-friendly, fuel-efficient vessel. As a result, the shipping company received financial support for the vessel building and unprecedented incentive.

The VLOC will be deployed in Hyundai Steel's iron ore trade for 20 years.

Mr. Hwang Gyu-ho, Chief Executive Officer, commented, "We are pleased to achieve this latest milestone, as we take delivery of our first VLOC. We hope this is highly acclaimed as a 'win-win' booster in the domestic maritime and shipbuilding industry." < 김보람 기자 brkim@ksg.co.kr >