Korea Transportation Asset Management (Kotam) is making financial preparations to order up to 10 ships in the Sino-Korean multi-owner project to build 325,000-dwt "mini-Valemax" VLOCs for employment by Brazilian owner Vale.
If Vale backs the deal with long-term contracts of affreightment (COAs), the fleet of newbuildings would swell to 47 including options.
Kotam is the transport finance affiliate of better-known shipowner Kukje Maritime Investment Corp (Kmarin).
