[ Yukong and Korea Line to be appointed as Additional… ]

Yukong and Korea Line to be appointed as Additional Dedicated Shipping
Companies for KEPCO’s Coal Transportation.
Yukong and Korea Line, two major Korean dry bulk and tank carriers wer
e nominated as the operating companies for coal transportation for KEP
CO +(Korea Electric Power Corporation) in their recent open bidding in
their head office.
To start with, Yukong Line had been awarded through proposing the succ
essful bottom bidding price of USS 25,800,000 whereas Korea Line had w
ritten their bidding price dearer than Yukong by two million dollars.

As a result, Korea Line made their final decision to face up to Yukong
’s level to be appointed as the second operating company. According t
o the relevant regulation, the second lowest have to accomodate the le
vel of the lowest applicant.
These two dedicated cape coal carriers will be delivered at latest bef
ore the end of 1996.