Agricultural commodities giant Cargill has teamed up once again with Japanese trading house Mitsui & Co to take advantage of very low newbuild prices in China, ordering up to six capesizes.
The pair – via their joint venture Great Wave Navigation – have tapped Jiangsu New Yangzijiang, according to Clarkson Research, to build three 180,000 dwt capes. The contract comes with three options. Price per unit is reportedly $41.6m with delivery of the firm ships scheduled for 2019.
Cargill and Mitsui last ordered ships together four years ago, inking a contract with Shanghai Waigaoqiao Shipbuilding for three capes. The trio were sold on as resales to Scorpio Bulk.