KDM Shipping boosts dry bulk capacity 6%

KDM Shipping (KDM PW), a Ukrainian maritime shipping company, reported on Dec. 11 its acquisition of Russian company ShipMar, which owns one used dry bulk cargo vessel with a deadweight of 1.5 kt, operating under the Russian flag and having all the required licenses to operate on the Russian market. The deal, worth  USD 2.99 mln, will be financed from the USD 7.6 mln IPO proceeds raised in July 2012. The company’s total dry bulk cargo capacity will increase 6% to 26.7 kt deadweight as a result.