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Kmarin orders four VLOCs at Chinese yards

South Korea ship investment firm Kmarin (Kukje Maritime) has placed orders at two Chinese yards for a further four 325,000 dwt guaibamax bulk carriers for long-term charter to Brazilian miner Vale.

The company has ordered two vessels at Yangzijiang Shipbuilding and the other two at Qingdao Beihai Shipbuilding. Deliveries of the vessels are scheduled in 2021.

The latest orders are part of Kmarine’s $750m newbuilding program, which will see it order a total of eight 325,000 dwt VLOCs plus options for an additional two at the two Chinese shipyards. Kmarine entered into letters of intent with the two shipyards for the orders in July.

Yangzijiang Shipbuilding confirmed an order from an Asian owner for two 325,000 dwt bulkers on Friday, the vessels will be built at Yangzi Xinfu Shipyard.

Currently Kmarine operates a fleet of 35 vessels made up of 15 bulkers, 14 tankers, three containerships and four LNG carriers, It has another two VLOCs under construction at Beihai Shipbuilding, which are set to be delivered this year and early next year.

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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