Independent journal on economy and transport policy
13:39 GMT+1
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SHIPPING
South Korea's Pan Ocean buys ten VLCCs from its compatriot SK Shipping
Transaction worth approximately $668 million
Seul
February 12, 2026
The South Korean shipping company Pan Ocean has announced
the acquisition of ten very large crude carriers in the fleet of
compatriot SK Shipping Co. for a total of 973.7 billion won
($668 million). Pan Ocean specified the ten ships
are currently used under
consecutive voyage charters with leading national charterers and which
expects the transaction to be completed within
April 2027.
We remind you that SK Shipping is controlled by the company
private equity firm Hahn & Company, which in 2018 acquired
acquired 79% of the capital, and that last year HMM, the
leading national containerized shipping carrier, led
Negotiations to acquire the company were unsuccessful
(
of 20
February and 5
August 2025).
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