China Dalian Plans Newbuild

6 December 2009 (Last Updated December 6th, 2009 18:30)

China Dalian International Corporation is planning to order five 57,000dwt Supramax bulkers at Jiangsu Nantong Ship Heavy Industry. The $141m contract is expected to be handled by China Dalian’s 80%-owned subsidiary Da Sin and four other Singaporean shipping companies. Da Sin

China Dalian International Corporation is planning to order five 57,000dwt Supramax bulkers at Jiangsu Nantong Ship Heavy Industry.

The $141m contract is expected to be handled by China Dalian’s 80%-owned subsidiary Da Sin and four other Singaporean shipping companies.

Da Sin will provide $36.4m of financing while the remaining companies will provide $21.5m.

The remaining 60% of the financing, which accounts for nearly $83m, will be secured through banks.

The company expects the vessels to be delivered between December 2010 and September 2011.