Shanghai: Shanghai Waigaoqiao Shipbuilding (SWS) has signed a letter of intent to build 28 (16 plus 12 options) 208,000dwt newcastlemaxes with Oldendorff.
Oldendorff plans to ink the basic contract soon. Each newbuilding costs around $47.25m, deemed a very competitive price by brokers given the size of the ship design. The first 16 ships are due for delivery in 2014.
SWS is one of very few yards to have received large bulker orders this year, taking a series of U-Ming cape orders this spring. [25/06/12]