South Korea’s KSS Line places order for three newbuild VLGCs

South Korea’s KSS Line announced its investment in three very large gas carriers (VLGC) through a newbuilding order with HD Hyundai Heavy Industries. These vessels are scheduled to be delivered sequentially starting from the first quarter of 2029.

The order is valued at KRW700 billion ($515 million) in total, which the company noted represents approximately 124 per cent of its revenue recorded last year. Long-term charter agreements have been secured for the fleet with energy firms BGN Group and GYXIS.

BGN Group will charter two of the vessels for a period of seven years in a deal worth approximately KRW514.3 billion. This arrangement follows the renewal of charter contracts for six other vessels with the same group in January.