YANG MING TO ADD THREE BULK CARRIERS

YANG MING TO ADD THREE BULK CARRIERS    The Taiwanese shipping line Yang Ming will add another three “Panama-max” bulk carriers to its fleet to take advantage of an expected upturn in the market.
   The company’s board of directors decided to purchase one bulk carrier that is already under construction, and to order another two.
   In November, Yang Ming bought two 70,000-deadweight-ton Panama-max bulk carriers. The first has been delivered to Yang Ming, and the second is scheduled to be delivered in January. Another bulk carrier will be delivered to Yang Ming in February.
   “As the world demand for raw materials, iron and coal have been growing since the third quarter (of 2002), it is expected that the bulk carrier market will prosper accordingly,” a spokesman for Yang Ming said.