CSD Orders 14 Vessels

22 August 2010 (Last Updated August 22nd, 2010 18:30)

China Shipping Development (CSD) has ordered 14 dry bulk ships for $424m. The company said the order follows a net income of CNY978.8m ($144m) for the first half of 2010 compared with CNY613.6m ($90.3m) a year earlier. The unit's first-half sales from carrying oil and hauling coal

China Shipping Development (CSD) has ordered 14 dry bulk ships for $424m.

The company said the order follows a net income of CNY978.8m ($144m) for the first half of 2010 compared with CNY613.6m ($90.3m) a year earlier.

The unit’s first-half sales from carrying oil and hauling coal rose by 31% due to the revival of the global economy and freight rates.

CSD said its fleet includes 65 tankers and 103 commodity vessels, with 49 ships scheduled for delivery through 2012.