Longxue bags more kamsarmaxes

Hong Kong: China Qinfa Group, a leading private coal trader, said Sunday it had signed shipbuilding contracts to pay $69m for construction of two 82,000 dwt bulk carriers.
In a statement filed to the Hong Kong stock exchange, China Qinfa said two of its wholly-owned subsidiaries -- namely Harbor Well and Merit Sino -- had each signed a contract with the Guangzhou Longxue Shipbuilding company, owned by the China State Shipbuilding Corporation. Each of the contracts was worth $34.5 million.
Qinfa also said it was a suitable time for the construction of two new vessels since current construction costs were about 50 percent less than the highest level in 2008.  [17/05/10]