December 22, 2006
MOL orders "Handy Capes" for expanded Panama Canal
With Panama Canal expansion slated for completion by around 2015, Japan's Mitsui O.S.K. Lines, Ltd. and shipbuilder Sanoyas Hishino Meisho Corporation have responded with a 116,000 dwt bulk carrier,
They will build two of the ships for launching in 2009 and 2010.
The new vessels are dubbed "Handy Cape" types, because of her greater versatility compared with larger Cape-size bulkers.
Trade patterns of the world's three major bulk cargoes (iron ore, coal, and grain) are expected to change after the Panama Canal expansion.
The Handy Cape bulker can be used at ports where larger-size vessels are restricted.
MOL and Sanoyas Hishino Meisho expect a strong increase in demand for the Handy Cape bulker, designed in advance of the canal project.