Korea Line win bid on CVC

Korea Line won a bid for a consecutive voyage charter (CVC).

Korea South East Power Company (KSEPC) and Korea South Power Company (KSPC) chose Korea Line as their CVC partners.

KSEPC and KSPC are subsidiaries of KEPCO.

The bid established a consortium of the two shipping companies, Korea Line and Hanjin Shipping. Korea line submitted the lowest fares.

Korea Line has deployed a 17,000 dwt cape size bulk vessel.

The contract is for 1,264,000 tonnes annually through to the second quarter of 2017 with a possibility to extend the contract to 10 years, and worth KRW 169 billion.

If Korea Line is selected as the final company, the contract with KSEPC will be awarded within 7 days. < 이명지 기자 mjlee@ksg.co.kr >