Heung-A Shipping Orders New Chemical Tankers

Heung-A Shipping announced today the order of a pair of 3,500 dwt chemical tankers for a total consideration of KRW 28,462,000,000 (approx. USD $28 million). The order comes in the form of a bareboat charter hire purchase (BBCHP) where the ships will be placed on bareboat charter for a period of 12-years following delivery. The vessels are due for delivery in September … [Read more...]

Heung-A Shipping Records 40 Percent Drop in Operating Income

Even with a 6 percent increase in sales this year, South Korean chemical tanker and container shipper Heung-A Shipping recorded a 39.7 percent drop in operating income, from 34.1 billion to 20.6 billion KRW.  In an exchange filing today, the firm attributes the drop in income to lower overall unit price of shipping however, they note their company's sales continues to … [Read more...]

Heung-A Shipping Orders Chemical Tankers

International maritime transportation firm, Heung-A Shipping announced today an $86.6 million (KRW 92.1 billion) newbuild order for four chemical tankers consisting of two 3.5k deadweight and two 12k deadweight vessels. The order takes the form of a Bareboat Charter Hire Purchase (BBC-HP) whereby the ships will be owned by a third party and bareboat chartered back to Heung-A … [Read more...]