Shanghai: George Economou's Cardiff Marine has reportedly gone to Shanghai's Hudong-Zhonghua Shipbuilding for four 8,500 teu containerships, paying just under $100m per unit. The ships are due in 2013 from Hudong-Zhonghua's new mega yard just north of Shanghai on Changxing island.
Cardiff Marine became the first Greek owner last week to receive full newbuild financing from a Chinese bank. The $74.2m loan from China Development Bank represented close to 70% of the $107m contract price for a 296,400-dwt VLCC at Shanghai Jiangnan Changxing Shipbuilding for delivery in 2011. [19/10/10]
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