Grand China Logistics places largest shipbuilding order

Technorati Tags: Baltic Dry Index,Baltic Dry Indices,Ship Chartering,Shipchartering,Voyage Fixtures,Time Charter Fixtures,Panamax,Capesize,Handymax,Handysize,Supramax,Dry Cargo Fixtures,Bulk Cargo Fixtures,Baltic Exchange,Freight Review,Grand China Logisitics,Newbuildings,Zhoushan Jinhaiwan Shipyard

Ningbo: Zhoushan Jinhaiwan Shipyard has secured a bumper order for 30 bulkers from fast emerging Grand China Logistics, one of the largest single orders placed in China of all time. Broken down, the vessels in the order were made up of 18 176,000-dwt Capesizes and 12 80,000-dwt Panamaxes.
With a total contract price of above $2 billion, the newbuildings are scheduled to be delivered between the third quarter of 2010 and the second quarter of 2012. Further, Grand China will invest in Zhoushan Jinhaiwan by acquiring 50% of the yard's stakes, according to the Kaiji Press. [19/06/09]