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China Ship Fund charters 12 post-Panamax bulkers

Shanghai: Shipping investment group China Ship Fund said it will charter 12 Post-Panamax bulk carriers for $800m, writes Ship Technology. The vessels will be chartered for eight to ten years to Chinese Government-owned agribusiness company COFCO, at a daily rate of $23,000.

The 92,500dwt carriers are reported to be under construction at China's CSC Jiangsu Jinling shipyard. China Ship Fund was floated two years ago by Centrans and the local government of Tianjin with an investment of $3bn.

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