Pan Ocean said on the 14th that it decided to place newbuilding orders for four very large crude carriers (VLCCs).
The investment amounts to 783.4 billion won, equal to 13.7% of its 5.7235 trillion won in equity capital.
The shipbuilding contracts will be signed on the 29th, with deliveries to follow in sequence by Nov. 19, 2030.
Pan Ocean said the purpose of the investment is "to enhance competitiveness in the liquid cargo business by expanding the VLCC fleet."
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