A new Swiss bulker operation has made its first move onto the shipowning stage.
Shipping Asset Management (SAM) has picked up the 52,450-dwt supramax Jin Kang (built 2003) and is planning further acquisitions before the end of the year. The Geneva-based operation, launched as a "start-up" in March, is said to have paid $26.8m for the vessel.
It is headed by 48-year-old German Sven Oldendorf and 55-year-old Belgian national Geert Descheemaeker, who are understood to have the backing of a wealthy family in the industrial and real-estate businesses.
Joint
