China’s Zhuhai Port has announced a plan to acquire two newbuild 25,800 dwt multipurpose vessels to expand its bulk shipping business.
The two vessels will be ordered by a shipping joint venture, set up by Zhuhai Port and Dalian-based owner Success Network last year, and will be deployed to transport steel products between Dalian and Zhuhai Port.
Total investment for the two vessels will be RMB160m ($23.14m).
Zhuhai Port said the company will continue to grow its bulk shipping business by expanding its fleet.
Last week, Zhuhai Port announced a plan to raise $145m for fleet expansion.