New shipping fund Hi Gold Ocean No.3 set to be launched

HI Investment & Securities Co., Ltd. announced it will launch their newest public equity shipping fund 'Hi Gold Ocean No.3' from February 27 to 28. The fund will be managed by Kukje Maritime Investment Corporation (KMARIN).

Two 57,000 DWT Supramax bulk ships will be built through the fund and delivered in April 2012 and August 2012. The ships will be put on long-term charter to Hyundai Merchant Marine (HMM) and SK Shipping for 5 years. When the contract reaches maturity after 5 years, the investors will receive a settled dividend of 7% per month.

A representative from Hi Investment & Securities said, "These days, BDI and BSI have been historical troughs. Investors take good profit through the low building costs and increases of ship prices."  < 김보람 기자 brkim@ksg.co.kr >