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Euroseas books two ultramaxes at Sinopacific

Greek shipowner Euroseas has entered into a contract with China-based Sinopacific Shipbuilding for the construction of two ultramax fuel efficient dry bulk carriers.

Lee Hong Liang, Asia Correspondent

December 5, 2013

1 Min Read
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The 63,500 dwt bulkers, worth a total of approximately $56m, are to be built at Yangzhou Dayang Shipbuilding and are slated to be delivered during the fourth quarter of 2015 and the first quarter of 2016 respectively.

Aristides Pittas, chairman and ceo of Euroseas, said: “This deal underlines our continued commitment to the dry bulk sector and our strategy of conservative growth and renewal of our fleet.

“We believe that investing in young assets when prices are low is a sound proposition as one is to gain not only from the trading of the ships, but also from possible asset appreciation. Both vessels are of eco-design and we expect them to have an additional competitive advantage in the marketplace,” he said.

Read more about:

dry bulk shipping

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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