Seoul: South Korean shipyard C& Heavy Industries (C&HI) has embarked on constructing capesize bulkers. The company notified the Seoul Stock Exchange on January 2 that it has received an order for a total of seven ships, comprising three 180,000-dwt and four 81,000-dwt types, from European owners. It is believed that C&HI will convert the plant of Shinu Shipbuilding & Marine, a hull block manufacturer based in Koje Island that it acquired in 2007, into a shipyard and then build the capesizes in the latest deal at the converted yard.
According to the notification, the seven newbuildings are due for delivery by March 2011. They were priced at $471.89 million in total. [10/01/08]
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