Dajin Heavy Industry, the subsidiary yard of financially troubled Shanghai Bestway Marine & Energy Technology, has partnered up with Yangzijiang Shipbuilding for a newbuilding contract for the construction of two 8,000 dwt bulkers with Russian food and ingredients supplier Aston.
Under the contract, Yangzijiang will be responsible for the commercial works including applying for refund guarantees and providing relevant certificates, while Dajin Heavy will be responsible for construction works.
Delivery of the two ships are scheduled in April and May 2020, and the price for each ship is $9.5m.
Shanghai Bestway is now in deep financial trouble with lawsuits against the company stacking up. In March, Shanghai Marine Equipment Research Institute (SMERI), a unit of China Shipbuilding Industry Corporation (CSIC), applied with a court in Shanghai to restructure the company.
Aston is one of Russia’s largest producers of foodstuffs and ingredients, and is also involved in the businesses of shipowning, ports and logistics. It currently operates a fleet of four bulkers and one tanker, and has another two 8,000 dwt bulkers on order at Dajin Heavy.