Shipping & Freight #pan ocean#vlcc
Pan Ocean Locks In $1.62B VLCC Newbuild Deal with SK Energy for 20-Year Crude Transport
Pan Ocean has secured a $1.62 billion, 20-year crude transport contract with SK Energy and SK Incheon Petrochem for four very large crude carrier (VLCC) newbuildings. The deal, running from 2029 to 2049, covers crude oil trades from the Middle East to South Korea, providing long-term employment for the tankers built at Hanwha Ocean. It marks Pan Ocean's continued expansion in the crude tanker segment, following its earlier $700 million acquisition of 10 VLCCs from SK Shipping.
Jun 22, 2026 1 source