Koreans rush to New Times for Vale newcastlemaxes

Koreans rush to New Times for Vale newcastlemaxes

New Times Shipbuilding in China has done a tremendous job of pitching its newcastlemax capabilities to Korean customers. Following on from yesterday’s news that Polaris Shipping has ordered two firm plus two options of scrubber fitted newcastlemaxes at the Chinese yard, brokers have a host of other identical ship deals from compatriot owners, all likely to go on charter to Brazilian miner, Vale.

H Line Shipping has three firm plus two options on order at New Times while it has also emerged Pan Ocean has put pen to paper for a pair of these scrubber-fitted bulkers. All ships are for 2020 and 2021 delivery with a reported very competitive price tag of $54m per unit.

The rush of Korean bulker orders has now closed out New Times’s available slots for 2020.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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