MOL in for rare cape order

MOL in for rare cape order

News comes from Japan of a very rare order for a new capesize. Imabari Shipbuilding has signed a contract with Mitsui OSK Lines for a 140,000 dwt bulker, due for delivery in 2020 from its Marugame yard.

The order is backed by a long-term charter to ship coal for Shikoku Electric Power.

Capesize ordering has been at historic lows given the record freight rate downturn seen in the sector.

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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