Kuala Lumpur: Shin Yang Shipping Corp (Syscorp) will start shifting Indonesian iron ore from the second half of this year. The Malaysian shipping line will use tugs and barges to move iron ore from Indonesian mines to transfer them to ships out at sea. Syscorp created an Indonesian subsidiary, PT Shinline, last October.
Keen to move beyond its reliance on the box trades, Syscorp has also diversified into palm oil shipments in the past couple of years. Micaline, Syscorp’s 55:45 joint venture with Sarawak Oil Palms, now has three tankers and two barges, the company’s chief financial officer revealed to local media. [18/02/14]