JES scores bulk orders worth up to $120m

Singapore: Singapore-listed Chinese yard JES International Holdings has secured a contract with options worth up to $120m.

The new contract for the construction of a 95,000 dwt post-panamax bulk carrier including options for three other similar vessels with the same design, is a repeat order from an unspecified European customer. The delivery of the vessel under the contract is expected to take place in September 2015, whereas the delivery of the vessels under the options is expected to take place from November 2015 onwards, if exercised.

This new contract comes on top of the group’s two other recent announcements earlier this year regarding the contract for the construction of four Newcastlemax bulk carriers plus options for further four similar vessels with the same design and the contract for the construction of a 97,000 dwt bulk carrier.

“The group has been observing the market trend which seems to preparing a recovery path,” said Jin Xin, chairman and ceo of JES.  [12/03/14]

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