Polaris Shipping is said to have sold five VLOC newbuildings to fellow South Korean owner H-Line.
Shipping market sources said the 325,000-dwt quintet, under construction at Hyundai Heavy Industries, is due for delivery between next month and April 2021. The transaction includes 25-year contracts of affreightment from Brazilian mining giant Vale.
The price of the ore carriers has not been disclosed, but Polaris was said to be paying around $75m per ship.
