Glory Maritime International, a new shipping company set up by Hong Kong shipowner John Koo, has officially signed shipbuilding contracts with China’s Wuhu Shipyard for the construction of up to ten 63,500 dwt ultramax bulk carriers.
The contract includes firm orders for four ships and options for six vessels. Total value of the contract is around $240m. The first vessel in the contract is scheduled for delivery by the end of 2019.
John Koo is a son of KM Koo, who ran Valles Steamship.
The new order marks Koo’s re-entry into the shipping business.
John Koo started Orient Steamship in 2002 and operated a fleet of both bulkers and tankers. However, he quit shipping in 2011 after selling his last ship.