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Navibulgar in for Chengxi handy quartet

Bulgaria’s largest shipowner continues its rapid fleet expansion with more Chinese handy orders. Navibulgar has gone to Chengxi Shipyard for four 42,000 dwt bulkers, with brokers suggesting the owner is paying $23m per unit. The ships will deliver in 2019.

The ship design is a familiar one for Navibulgar. The Bulgarian company has opted for the Bluetech 42 design developed by Finland’s Foretech, a ship type it has already ordered six times in China in recent years.

The 42,300 dwt ships are 185 m long and have a hold volume of 57,750 cu m, some 15% bigger than most of its rivals.

As well as newbuilds, Navibulgar has been very active in the S&P market over the past two years.

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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