Orders pile in for New Times

Orders pile in for New Times

New Times Shipbuilding’s decision to focus on newcastlemaxes and LR2 tankers is paying off. The Chinese yard has been one of the most successful in 2019 with a host of big names heading to Jiangsu province to sign contracrts.

Banchero Costa is reporting South Korea’s H-Line has firmed up an order for a pair of 208,000 dwt bunkers for delivery end of 2020. No price has been revealed.

Meanwhile, Allied Shipbroking detailed an order from Lou Kollakis’ Chartworld Shipping in the broker’s latest weekly report. The Greek owner has signed for two firm 110,000 dwt LR2 product tankers in a contract that comes with two options. Allied reported a price of $46.5m per unit for these Chartworld newbuilds.

Founded in 1996 as a private yard located on the lower reaches of the Yangtze around 100 km northwest of Shanghai, New Times has three drydocks.

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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