China Shipping orders four tankers
China Shipping Development Co. Ltd., an affiliate of the China Shipping Group, has decided to order four new oil tanker vessels.
The company will order two 70,000-ton carriers at a total prospected cost of $58 million from Dalian Shipbuilding Heavy Industries. The ships are expected to come into operation in July and September 2005.
Two smaller 42,000-ton carriers, costing about $52 million, will also be ordered from Guangzhou Shipyard International. These ships are scheduled to enter into operation in June and December 2005.
The new ships will be financed partly by the company’s own money and partly from bank loans.