Dry CargoGreater China

Sinotrans signs deal for six handysize bulk carriers

After ordering four containerships on Tuesday, Sinotrans has ordered six handysize bulkers from China’s Shanhaiguan New Shipbuilding Industry Co for $23.15m each or $138.9m in total.

The “energy-saving” bulkers will each be 38,800 dwt, and are set for delivery in June, August, October and December 2017, and March and May 2018, respectively.

Sinotrans said the order was spurred by the relatively low construction cost of new vessels and the company’s access to “sufficient capital resources”.

“The construction of such energy-saving dry bulk vessels will enable the company to optimize the composition of its fleet of dry bulk vessels, expand the capacity of its self-owned fleet of dry bulk vessels and increase the flexibility in the development of the company’s chartering business of dry bulk vessels,” Sinotrans stated in a filing to the Hong Kong Stock Exchange today.

A 10% deposit per vessel has been paid by Sinotrans, with the balance payable in four installments.

Sinotrans signed contracts on Tuesday with CSSC Huangpu Wenchong Shipbuilding for four 1,900-teu containerships.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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