S. Korea?s Sinam to enter coal shipping business

Newly-formed South Korean shipping firm Sinam Shipping Co., Ltd, will buy three vessel of different types to start bulk, especially coal shipping business, the company?s director said.

HC Chang told Petromindo.Com last week that the company has ordered handymax, panamax and kamsarmax vessels, which the company expected to receive before June this year.

?Firstly, we will focus on Indonesia and Australia markets,? he said, adding that to date the company has no customers yet. ?We have to make sure that the vessels will arrive on time, and then we will look for customers.?

A Panamax cargo ship typically has a DWT of 65,000-80,000 tons and a maximum cargo intake of 52,500 tons, Handymax or Supramax is a naval architecture term for a bulk carrier, typically with a capacity of between 35,000 and 60,000 metric tons deadweight (DWT). A Kamsarmax type bulk carrier is a 82,000 DWT Panamax with an increased Length Over All (LOA)of 229 m. (denny)