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Cosco Dalian bags $320m Noble Group bulker contract

Cosco Dalian bags $320m Noble Group bulker contract

Shanghai: Commodity and global logistics service supplier Noble Group is said to have allocated $320m to expand its bulk fleet through newbuild vessels ordered at Cosco Dalian. The arrangement, for four 92,400dwt post-panamax vessels and one capesize vessel, are part of a joint order at the yard with Netherlands-based Vroon Group, which will take delivery of four vessels itself.

The new ships are slated for delivery to Noble between this January and December 2012 are expected to boost the group's ability to cater to its growing bulk transportation commitments.

In the first half of 2009, the Noble Group saw a 19% increase in products handled to a record 93m tons, thereby generating $13.3bn in revenues. It declared a net profit of $339m for the period, which it states "was the highest six month total in group history".  [17/08/09]