GTRC boss says ship order signals industry turnaround

05 Mar 2010

The signing ceremony of the bulk carrier contract between ZCHI and Campbell Shipping

Bahamian shipowner Campbell Shipping Ltd. has signed an order with Zhong Chuan Heavy Industry Shipbuilding Co. Ltd. of Zhoushan for two 32,000 dwt double-hull bulk carriers, with an option for two more.

These ships, which will be classed by ABS and fly the Bahamas flag, are to have 183m length overall, with a 28m beam, a scantling draught of 10m and a service speed of 14 knots. Their prime movers will be MAN B&W 6S46MC-C8 diesels, making them among the first vessels to order MAN’s new Tier-II compliant engines.

The vessels are being built to the Transporter series design developed by Nassau-based Algoship Designers, with basic, classification and production designs produced by Smart Engineering and Design Solutions Ltd. (SEDS). Both companies are affiliates of the GTR Campbell Marine Consultants (GTRC), which will be providing project management services in the shipyard, a business model of turnkey shipbuilding that GTRC introduced to the maritime world almost 50 years ago.

“We consider this an excellent futuristic design, complying with most up-to-date rules and regulations and meeting anticipated commercial requirements,” said Lowell Mortimer, president of Campbell Shipping, on behalf of the buyers. “The vessels represent what the maritime industry has come to expect from GTRC: a good ship at a fair price for buyer and seller, built to high quality standards and delivered on time.”

For the shipyard, the order signifies the start of a productive new cooperation with a well-known industry leader. “We strongly believe the association with Campbell Shipping and GTRC will improve our quality, productivity and profitability due to their many years of experience in bringing orders and providing consultancy in the Far East,” said Zhong Chuan’s vice president and general manager captain Yang Xin Chun.

“This contract, the first bright light in today’s otherwise dark newbuilding market, marks a turning point signalling the beginning of the end of the latest global shipping crisis,” said GTRC President Antony Prince after the signing. “The timing and pricing are now ripe to select the best yards before the coming rush, to lock in the best prices and delivery schedules for 2012 and be ready to take advantage of an anticipated jump in charter rates.”

For Prince, the contract marks another satisfying moment in the company’s history of groundbreaking projects. “Back in the early 1990s we brought a series ship order to Dalian, through which China really showed the world what it could do,” he said. “We were again the trend setters in India, bringing the first commercial business to Cochin Shipyard and showing the world the quality of work possible in India. Now, in China, we are very proud to again be opening the door on what promises to be a new era of prosperity in our industry.”

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