Sinochem books four ships in Korea

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Seoul: Sinochem Group has signed a shipbuilding letter of intent with Korean 21st Century shipyard for four stainless steel 20,000dwt chemical tankers. The two sides are negotiating for lower price as the recent quote is $40m per ship.
The shipyard said they will sign the formal contract in October and the first ship will be delivered in the first half of 2011.  [27/08/09]