Major Shipbuilding Contracts in December Land in Chinese Accounts

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Chinese shipbuilding yards have bagged a majority of orders floated in the industry in the first week of December. New Times Shipbuilding has won a contract for the construction of eight 63,000 dwt bulkers from Cyprus-based Frontmarine.

The ships will be delivered in 2020 and are valued at USD 26.5 million apiece, pushing the total value of the deal to USD 212 million. The deal is said to include additional options.

Qingdao Wuchuan Heavy Industries received an order for eight 86,000 dwt bulkers. Chinese owner Fujian Guohang Ocean is said to be behind the contract, which includes three firm ships and options for five newbuilds, Asiasis reported. The newbuildings are priced at around USD  30 million apiece.

The trio is scheduled for completion in 2019 and is estimated to have fetched around USD 90 million in investment. Chinese Chengxi Shipyard has been linked to an order for up to four 56,000 dwt tankers, placed by HK Kai Sheng International Shipping, data from Allied Shipping said.

South Korean major Hyundai Heavy Industries (HHI) has won an order for two 400,000 dwt bulkers from Hyundai Glovis, while Japanese yards, including Tsuneishi, Sasebo Heavy Industries, and Mitsui Engineering nabbed orders for one small bulker each.

Sea News, December 13