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Rizhao Steel beefs up fleet

Hong Kong: Rizhao Steel of China are following other mills tired of paying exorbitant freight rates and thus beefing up its owned fleet. Shipbroker Clarkson Asia reports that the mill has placed orders at Dalian for four 180,000 dwt ships, two in 2010 and two in 2011. Another four of 176,000 dwt size have been placed at Shanghai Waigaoqiao, teo for 2010 delivery and two for 2011 delivery. Each ship is thought to cost in the region of $90m. [16/6/08]

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