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Yangzijiang seals order for two self-unloading bulkers

Yangzijiang seals order for two self-unloading bulkers
China’s Yangzijiang Shipbuilding has secured an order to build two self-unloading bulk freighters for Canada’s Algoma Central.

The contracts for the new Equinox Class 29,400 dwt ships were firmed up on Monday after they were made effective with the delivery of refund guarantees by the shipyard.

“Our search for a shipyard in China to replace the now-bankrupt Nantong Mingde Heavy Industries led us to Yangzijiang,” said Ken Bloch Soerensen, president and ceo of Algoma.

The newbuildings are scheduled for delivery in the first half of 2018.

These new Equinox vessels will have all of the features of the existing Equinox design, including the exhaust gas scrubber technology pioneered by Algoma on the Great Lakes in its first Equinox Class gearless bulk carriers.

This new order brings the total Equinox Class vessels under construction to seven. In total, Algoma expects to invest approximately $450m in this phase of its fleet renewal program. With the addition of these new ship orders, the company is reviewing its fleet plan and considering the retirement of certain older vessels.