Mirae Asset Securities of South Korea invites public subscription for its 'Badaro 19th ship investment company' totalling around KRW 78.9bn ($69.2m), which pays monthly dividends, revealed on April 23.
The Badaro fund invites investors until May 18 and construct newbuildings with the fund, then charter them out to shipping company and pay dividends back to investors with charterage.
The Badaro 19th will place a newbuilding order for two 57,000-dwt supramax bulkers, with at least eight years of long-term time charter with Hyundai Merchant Marine of South Korea.
Sources said, the fund officials is in talks with some Chinese yards.
When the shipping market recovers, investors can have additional profits with growing charter fee and if ship value increases, it will sell the vessels earlier and pay it to investors.