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Shanhaiguan Shipbuilding to complete unfinished STX Dalian valemax

CSIC-affiliated Shanhaiguan Shipbuilding Industry has secured a contract to complete an unfinished valemax from bankrupt STX Dalian.

South Korea owner Pan Ocean originally ordered the vessel at STX Daian in 2009, however, the construction of the vessel was suspended in 2013 due to the bankruptcy of the shipyard.

In February, Pan Ocean bought back the vessel through an auction for RMB110m ($16.8m).

Pan Ocean signed a 20-year contract of affreightment (COA) with Vale in March to transport 32m tons of iron ore to China and Malaysia for Vale from the fourth quarter of 2016.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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