Hyosung Capital diversifies operating asset portfolio with bulk carrier lease contract
2011.03.30
Hyosung Capital has successfully signed a \12 billion lease contract for a bulk carrier cargo ship in September last year and celebrated the hand-over of the ship during a ceremony in February this year. The bulk carrier named ‘Ocean Challenge’ is a capsize ship which refers to the largest of all bulk carriers. Freight rates alone reach $58 million (approx. \60 billion). This event was held at Sungdong Shipbuilding & Marine Engineering Company in Tongyeong and the ship was handed over to Hyosung Capital after the ceremony to start loading it as per the charter contract signed with Hyundai Merchant Marine Cargo. Hyosung Capital also plans to lease additional ships of the same kind around April and continue expand shipping finance to diversify its operating asset portfolio.
