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Hyundai Merchant Marine to invest 470.3b won in new oil carriers

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South Korea's largest shipper, Hyundai Merchant Marine, will invest 470.3 billion won (S$568.4 million) in five new very large crude oil carriers (VLCCs), the company said on Thursday.

[SEOUL] South Korea's largest shipper, Hyundai Merchant Marine, will invest 470.3 billion won (S$568.4 million) in five new very large crude oil carriers (VLCCs), the company said on Thursday.

It will also invest 181.9 billion won in two container ships, the company said in a separate filing.

The investments, due to be completed by September 2019 and May 2018 respectively, aim to boost the competitiveness of its fleet and services.

REUTERS

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