Greater China

Sinotrans Shipping continues 2014 aggressive fleet buildup

Hong Kong: Sinotrans Shipping made plain a couple of months back it would get seriously back into ordering mode and it has not hung around. Yesterday’s announcement for six bulkers takes its 2014 newbuild outlay to more than $250m.

The Hong Kong-listed state run entity announced yesterday orders for two 78,000 dwt panamaxes at Jiangnan Shipyard and four 64,000 dwt ultramaxes at Chengxi Shipyard for a total of $161.6m.

The order follows a January splash for four 64,000 dwt bulkers at Jinling Shipyard for a total of $103.2m.

The new orders placed this year will take its mixed fleet of bulkers, boxships and a VLCC to beyond 60 vessels when they all deliver in the next couple of years.  [14/02/14]

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