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Jinhui Holdings to buy two VLOCs

Hong Kong: Shipping firm Jinhui Holdings has announced that it's subsidiaries, Jinchao Marine and Jinning Marine, are to spend $245.2m on the purchase of two very large ore carriers (VLOCs) from the China Shipping Industry Corporation (CSIC).  The vessels, of 300,000dwt each, will be delivered by June and December 2011 respectively and be chartered out for iron ore transportation.

The VLOCs will both be built at CSIC's yard in Dalian and will boost Jinhui Holdings's current fleet of eighteen vessels. The group currently owns sixteen modern grabs fitted Supramaxes, one modern Capesize and one modern Panamax.  [26/11/07]

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