South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering has won an order for two kamsarmax bulkers.
South Korea's Mirae Asset Securities and Global Marine Finances announced on Aug 12 to have struck hands with Cargill of the US, an international producer and marketer of food, agriculture, etc., and created performance-based ship funds.
The ship funds placed orders for two 82,000-dwt bulkers to Sungdong and will be operated in a way of long-term charter to Cargill by fluctuating freight. then disposal of ships after chartering contract ends.
Performance-based ship funds with direct investment, in particular, earn high returns on the investment in times when freight and ship value recover.
Prominent pension funds in Korea and Global Marine Finances's stockholder, Mirae Asset took part in this fund as investors, by raising funds, financial restructuring consultation and principal investment.
Another shareholders of Global Marine Finances, Samsung Construction & Trading, backed up this project as well. Taking advantages of its global network and previous experiences as an investor and ship broker, Samsung C&T introduced Korean ship fund to Cargill and played an important role in signing a long-term chartering contract.