“K” Line agrees to 3rd charter deal with Korean power company

“K” Line agrees to 3rd charter deal with Korean power company

“K” Line agrees to 3rd charter deal with Korean power company

“K” Line said Thursday it has agreed to a deal with Korea Western Power Co. for a 10-year consecutive voyage charter (CVC) of a capesize bulk carrier, beginning the first quarter of 2009.

   The charter will see the Japanese carrier transport bituminous coal for electric power generation from Australia, South Africa, Indonesia and Canada to South Korea for the Seoul-based power company.

   'K' Line already has two previous contracts with KWP, including a 10-year CVC starting from mid-2007 with a Panamax bulk carrier, and another 10-year CVC starting from the second half of 2011 with a capesize bulk carrier. KWP is one of six power generation companies owned by Korean Electric Power Corp. ' Eric Kulisch