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Dajin Heavy partners up with Yangzijiang for bulker order

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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