Brokers: Sinokor Merchant Marine In for Up to 20 Bulkers

Seoul-based shipping company Sinokor Merchant Marine has been linked to an order for up to 20 bulkers at Jinhai Intelligent Manufacturing, according to Oslo-based broker Fearnleys.

Sinokor is said to have firmed up its order for four Newcastlemaxes at Jinhai, with options to boost its order with 16 more ships.

The delivery date for the firm 208,000 dwt newbuildings from the contract has been set for 2020. Price details of the deal have not been revealed.

The order is being reported on the back of Sinokor’s second-hand feeder purchases. Namely, in April, Sinokor bought two MAX  feeder vessels, which had been commercially managed by Dutch Vroon, with one more acquisition expected to follow soon.

Sinokor is in the process of merging its container shipping operations with compatriot Heung-A Shipping.

The merger is expected to take place by the end of the year before the duo joins forces with Hyundai Merchant Marine (HMM). The integration is expected to be completed by the end of 2019, the country’s Ministry of Oceans and Fisheries (MOF) said in a statement. 

 

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