The connected transaction is for two 62,000 dwt vessels at a price of RMB222m ($34.3m) each, with an option for one more sister ship. The first newbuilding is planned for delivery in end-January 2019, with subsequent deliveries three months apart.
The newbuilding orders followed the COA signed in March this year, with Cosco Shipping Specialised Carriers agreeing to deploy paper pulp vessels to carry the cargoes from Brazil to the Far East.
The five-year COA stipulates the transportation of 300,000 tonnes of paper pulp cargoes a year, starting first quarter of 2019.
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