South Korean shipowner H-Line Shipping has returned to dry bulk newbuilding after about five years with an order for two LNG dual-fuel Newcastlemax bulkers at China’s New Times Shipbuilding for charter contracts with steelmaker Posco, according to TradeWinds.
The two-ship deal is H-Line’s first dry bulk newbuilding commitment since its 2021 LNG-fuelled Newcastlemax programme tied to long-term transportation contracts with Rio Tinto.
H-Line, Posco and New Times have not publicly disclosed the latest contract. The price, delivery dates, exact deadweight, engine specification and duration of the vessels’ employment with Posco have not been made public.
H-Line’s website currently lists 42 bulk carriers in service and none under construction. The shipowner has an established LNG-fuelled bulker programme with Posco. In 2018, H-Line contracted two 180,000-dwt LNG-fuelled Capesize bulkers for service under a long-term transportation contract with the South Korean steel producer.
In 2021, H-Line signed a long-term transportation agreement with Rio Tinto covering up to six 208,000-dwt LNG-fuelled Newcastlemaxes.
H-Line Shipping Co Ltd operates dry bulk, LNG carrier, vehicle carrier and shipmanagement businesses, with more than 90% of its operating fleet company-owned.
New Times Shipbuilding Co Ltd is a privately owned Chinese shipbuilder based in Jingjiang, Jiangsu province.