Hyundai Merchant Marine will transport 10 million tons of crude oil from the Middle East to South Korea over a period of five years, from July 1, 2019 through Aug. 31, 2024.
Hyundai Merchant Marine (HMM), South Korea’s largest ocean carrier, signed a long-term crude oil shipping contract today with GS Caltex, an oil refiner headquartered in Seoul.
Under the 190 billion South Korean won (U.S. $177 million) contract, HMM will transport 10 million tons of crude oil from the Middle East to South Korea over a period of five years, from July 1, 2019 through Aug. 31, 2024, HMM said.
Accordingly, HMM plans to deploy two, 300,000 dwt very large crude carriers, which it ordered in September 2017.
HMM inks $177m contract with South Korean oil refiner
