Zhuhai Port Shipping, the shipowning unit of Zhuahai Port Group, has signed shipbuilding contracts with Wuhu Shipyard for the construction of two 12,500 dwt bulk carriers.
The vessels will be used for domestic coastal shipping operations. Contract details were not disclosed.
At the end of 2017, Zhuhai Port announced a plan to raise $224m for the establishment of a bulker fleet. The net proceeds will be used to fund the acquisition of a total of 55 vessels including both newbuildings and secondhand vessels.
Zhuhai Port believes the fleet expansion plan fits its strategy to transform into an integrated logistics solution provider.