October 12, 2008

Korea Line to invest USD 586 million to buy 4 ships

Reuters reported that South Korean shipping firm Korea Line Corp plans to spend KRW 589.4 billion (USD 585.5 million) to purchase one very large ore carrier and three very large crude oil carriers.

Korea Line said in a filing to the Korea Exchange it would make the investment, intended to secure ships for the medium and long term, between 2010 and 2012.