Hong Kong: Sinotrans Shipping has set aside a $381.9m warchest ready to make the most of the cheap newbuilds available and nearly double its fleet to more than 3m dwt by 2011, according to senior management.
Chairman Zhao Huxiang reflected that ship prices have dropped by up to 60% and now was a good time to make the most of the bargains on offer especially as the company feels the China bulk sector is now on an upward trend. [13/08/09]
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