Seroja in bulker venture with Chinese coal exporter

Singapore: Seroja Investments has entered into a joint venture with a Chinese coal exporter to own two post-panamax bulkers. The Singapore-listed company is furthering ties with Zhushui Energy Resources to purchase two 80,000 dwt bulkers for $33.1m each. The two bulkers are due to be delivered from Zhoushan Jinhaiwan Shipyard in November and December next year. The company believes the purchase prices of the vessels are reasonable and present market conditions present an excellent opportunity to invest in the vessels," Seroja said. The two companies already jointly own a 1991-built capesize. [22/11/10]