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China yards score heavily

China yards score heavily

Singapore: A good week so far for Chinese shipbuilders with brokers reporting several major contracts.
Cosco's shipyard, Nantong in Jiangsu Province, has received more orders for suezmax tankers from European owners. Greece's Thenamaris has reportedly ordered two option two 156,000 dwt tankers from the yard for delivery in 2009, while prolific orderer Turkish owner Geden Lines has placed a similar order. The unit price is reported as $73m, well below brokers' estimated $80m price tag for the equivalent vessel ordered in South Korea. Thenamaris already has two suezmaxes on order at the yard, while Geden Lines has two on order in Korea.
A considerable number of bulk carrier orders for China have also been reported.  Hong Kong's Parakou Shipping is said to have ordered five 53,000 dwt bulkers from Chengxi Shipyard for 2009/10 at a reported $29m a copy. Meanwhile, Hantong has received orders for two 51,000 dwt bulkers from Greece's Good Faith Shipping for 2008/9 delivery, and the same order from Primera Shipping, another Greek operator.
Norwegian operator, Knutsen has entrusted two 16,000 dwt chemical carriers to  Jiangnan for 2009 delivery.
Two other Chinese yards have benefitted this week with Penglai Bohai winning a two-ship order for 600 teu containerships from Pacific International Lines for delivery 2009, while W Bockstiegel Rederi is said to have booked eight 6,800 dwt multi-purpose vessels at Zhejiang Zhenyu for delivery 2008/9 at $12.5m each.  (24/08/06)

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