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Yangzhou Dayang Shipyard to sell bulk vessel for $57m

Yangzhou Dayang Shipyard to sell bulk vessel for $57m

Beijing: China's Yangzhou Dayang Shipyard has signed a  $57m contract with Globus Maritime for the purchase of a dry bulk vessel currently under construction at the yard. The shipping company is to raise the money for the acquisition though a combination of funds raised from an initial public offering and a loan.

Globus Maritime, which expects the ship to be delivered in December, has said that the purchase increases its dry bulk fleet to a total of seven vessels. The company recently strengthened its fleet through the purchase of a second-hand 73,119 dwt Panamax Samsung Shipyard-built vessel in April for $38m. The vessel, renamed Island Globe was delivered last month.

Globus Maritime currently operates one Panamax and five Handymaxe ships with a total capacity of 289,000dwt and an average age of 12.3 years.  [19/07/07]