The company recently ordered two 300, 000 tons of VLCC under modern heavy industry, and the new ship will be delivered in 2020 with a contract value of 185.56 billion won ($173m).

The two VLCC will be used to transport crude oil to gs-caltex, South Korea's second-largest oil refinery. South Korea signed a long-term crude oil deal with gs-caltex before shipping.

The company said it would further strengthen cooperation with south Korean shipyards to seek to expand services beyond crude oil shipments. The fleet currently has 29 vessels, including 19 bulk carriers, eight LNG tankers, one oil tanker and one car carrier, totaling 3393,961.