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HMM Nets USD 420 Million to Build 5 VLCCs

South Korean shipping company Hyundai Merchant Marine (HMM) has secured USD 420 million to finance the construction of five very large crude carriers (VLCC). The funding has been provided via the financing fund worth KRW 2.6 trillion (USD 2.28 billion), which the South Korean government announced in October 2016 to help the country’s shipping industry. →