Greater China

New Times Shipbuilding seals tanker quartet

Shanghai: New Times Shipbuilding has received newbuild orders from Wilbur Ross-backed Transport Recovery Fund (TRF) for two 160,000 dwt suezmax oil tankers plus two options.

Price for each vessel is about $60m and deliveries are scheduled in October and December of 2016.

TRF has spent a total of $650m on newbuildings. It also ordered two 208,000 dwt bulkers at China Shipping Industry (Jiangsu) in the first half of this year. [03/11/14]

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