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Sinotrans snags capesize resales

Hong Kong: Hong Kong-listed Sinotrans Shipping said in a statement that it is paying $194m for a pair of 176,000-dwt capesize resales which will be delivered at the end of 2009. Sinotrans said they were under construction at Zhoushan Jinhaiwan Shipyard Co in China. The firm did not specify off whom it was buying the ships though John Koo's Orient Steamship has been mooted as one possibility. [3/7/08]

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