Polaris Shipping (CEO Kim Wan-Jung) turned to STX Dalian for a large bulk carrier newbuilding on July 30.
STX Dalian is a Chinese subsidiary of the South Korean industrial chaebol STX Corporation.
The Seoul-based carrier will pay USD 48 million for the 207,000 tonnes bulker, a statement says.
The vessel called 'NewcastleMax' is bigger than a Capesize ship.
The bulk freighter will be delivered to Polaris Shipping in September of 20141 and will be used for carrying soft coal for Korea Electric Power Corporation (KEPCO).
The ship will be employed into a Contract of Affreightment (COA) between Polaris Shipping and Korea East·West Power (EWP), a subsidiary of KEPCO for 15 years. < 김보람 기자 brkim@ksg.co.kr >
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