Zhoushan Changhong International Shipyard is going to continue construction of five unfinished containerships at Ouhua Shipbuilding, having taken over the shipyard earlier this month.
Changhong has entered into an agreement with South Korean company Doosan for the supply of engines for the five ships comprising of two 1,700 teu ships, two 5,300 teu ships and one 3,100 teu ship.
Changhong itself currently has six 2,700 teu boxships, six 1,800 teu boxships and two ultramax bulkers on its orderbook.
Ouhua Shipbuilding went bankrupt in May this year and left eight unfinished vessels. Zhoushan Changhong took over Ouhua through an online auction this month for $135.7m.