Hong Kong shipowner KC Maritime has strengthened its focus on the dry cargo market after taking delivery of the first of five large Panamax bulk carriers under an order worth about US$200 million placed with a South Korean shipyard.
The ship, the 82,000 deadweight tonne (dwt) Darya Ma, has already left the shipyard on its first revenue-earning voyage bound for Australia to load a cargo of coal.
KC Maritime chartered the ship, which has an operating life of 25 to 27 years, for five years to Resource Marine, the specialist commodities and ship chartering offshoot of Australia's Macquarie Bank. Sham Chellaram, chairman of KC Maritime, said the ship was one of five sister vessels ordered from leading South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering in the previous two years.
The other four vessels are due to be delivered once every quarter next year. They will join the shipowner's existing fleet of three Panamax bulk carriers and three cement carriers.
With Panamax vessels ranging in size between 76,000 dwt and 93,000 dwt, the 82,000 dwt size was chosen for its economies of scale, cheaper operating costs and increased flexibility, according to a comparison by KC Maritime.
The vessels are expected to carry coal, iron ore, grain and similar bulk cargoes on commodity trade lanes linking Australia, Asia, India, Europe and the Americas.