Vapores Seeks New Ships

2 August 2010 (Last Updated August 2nd, 2010 18:30)

Vapores is planning to increase its capital to $400m to expand its fleet. The proposed fund will replace the company's 2009 plan to raise $360m for fleet expansion, Vapores said. Under the revised plan, the company will purchase five 8,000teu vessels for $625m during 2011-12 from

Vapores is planning to increase its capital to $400m to expand its fleet.

The proposed fund will replace the company’s 2009 plan to raise $360m for fleet expansion, Vapores said.

Under the revised plan, the company will purchase five 8,000teu vessels for $625m during 2011-12 from Samsung Heavy Industries, modifying its earlier contract to buy four 12,600teu container ships for $644m.

The shipping firm is also considering restructuring the financing of ships that are already under construction, according to The Wall Street Journal.