A KG has dropped ‘tankers’ from its name as it picks up more dry tonnage.

Newly named Scorship Navigation formerly Scorship Tankers is continuing its push into the dry sector.

The Hamburg-based KG (limited partnership) has emerged as the owner of four supramax-bulkers to complement its recent acquisition of a capesize.

The four supramaxes are currently under construction at Yangzhou Guoyu Shipbuilding in China for delivery in 2009 and 2010.

Two of the vessels have been fixed on five-year charters to Deiulemar of Italy and the other two on three-year charters to Danish operator Clipper Bulk Shipping. At present, the only owner listed as having those slots at the Chinese yard is Italian owner Sider Navi. But those orders did not materialise, say sources, which appears to have left open the slots to a newbuilding order from the Scorship partners.

The vessels, which have a market value in the region of $50m each, marks a further drive into the dry sector for Scorship, which made its first move in May with the purchase of the 170,000-dwt newbuilding Golden Sentosa.

The vessel has been renamed King Robert and is scheduled for delivery from South Korea’s Daehan Shipbuilding early next month. It was purchased for a low price of $119.5m because of a five-year time charter upon delivery to Sanko Steamship at just $48,000 per day.

Scorship, a KG joint venture between Germany’s Konig&Cie and Scorpio Shipping of Monaco, is best known for its involvement in the tanker sector but changed its name this week to reflect the move into the dry sector.

The newly christened Scorship Navigation now has 39-year-old Jens Mahnke as managing director. Mahnke moved to Konig&Cie early this summer, having previously spent six years at rival German finance house Nordcapital.

Scorship founders Tobias Konig and Emanuele Lauro have made the appointment with the hope of further consolidation in the tanker and bulker markets.

Scorship also operates a fleet of six panamax and four handymax products tankers that are managed in the Scorpio products-tanker pools in Monaco.

The company is finalising the acquisition of a further two handysize products tankers, which will leave it with around 20 vessels by the end of the year.

That is understood to include the Meriom Gem for delivery from China’s Guangzhou Shipyard International in January 2009 and 38,900-dwt Meriom Breeze (built 2004), while the 38,500-dwt Meriom Ruby (built 2008) was purchased by Konig\\\'s listed company, Marenave Schiffahrts.