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JES 30-option deal could be worth $1bn

JES 30-option deal could be worth $1bn
Chinese shipbuilder JES International has announced a contract for the construction of six ultramax bulk carriers, with 30 optional vessels attached.

A company registered in the British Virgin Islands has placed the order for the six 64,000 dwt ships, which are due for delivery in December 2015 and January 2016.

Should the customer take up any of their plentiful options from 2015, they are expected to deliver from late 2016.

With the latest order, singapore-listed JES has secured $432m in contracts in 2014, with a further $1.1bn in options.

Last week, the shipbuilder announced that it was aborting a planned diversification into mining, and that it was in negotiations to amicably terminate an investment that was worth around $102m to mining company Mineriver.