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H-Line orders largest LNG-powered bulk carrierss No 16|2018.10.15


LNG World Shipping

H-Line Shipping, part of the South Korean private equity firm Hahn & Co, has confirmed 
newbuilding orders for two 180,000-dwt LNG-powered bulk carriers.


In recent years a number of South Korean, Japanese and Chinese shipowners and yards, 
working in tandem with class societies, have developed concept designs for  LNG-powered, 
Newcastlemax bulk carriers with Australian iron ore transportation in mind.


KOBC will make available up US$121.5M in guarantees to four shipping companies 
– Korea Line Corp, SK Shipping, H-Line Shipping and Polaris Shipping – 
and H-Line is set to be awarded US$8.5M from this pot to put 
towards its Newcastlemax newbuildings.

The funds are being provided through the Korean Ministry of Oceans and Fisheries' 
eco-friendly ship conversion support programme. 

The scheme is providing subsidies equivalent to 5-10% of a newbuild vessel's price 
when it replaces an older vessel aged 20 years or more with an eco-friendly vessel. 

South Korea has launched the programme 
ahead of the entry into force of the January 2020 sulphur cap, and 
LNG-powered ship construction, in particular, is being encouraged.


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