GENERAL NEWS

China to build bulker quartet

16 years ago

The wholly owned Hong Kong subsidiary of Shanghai-based China Shipping Development signed an agreement with Shanghai Jiangnan Changxing Heavy Industry and China Shipbuilding Trading to build four 180,000 dwt bulk carriers for a total of $212.32 million.

The four bulkers are scheduled for delivery in November and December 2012. Twenty percent of the funds required for the payment of the ships will be generated by the company itself and the remaining 80% will be borrowed from banks.