China Ship Fund Charters Panamax Vessels

8 September 2010 (Last Updated September 8th, 2010 18:30)

Shipping investment group China Ship Fund said it will charter 12 Post-Panamax bulk carriers for $800m. The vessels will be chartered for eight to ten years to Chinese Government-owned agribusiness company COFCO, at a daily rate of $23,000. The 92,500dwt carriers are under constru

Shipping investment group China Ship Fund said it will charter 12 Post-Panamax bulk carriers for $800m.

The vessels will be chartered for eight to ten years to Chinese Government-owned agribusiness company COFCO, at a daily rate of $23,000.

The 92,500dwt carriers are under construction at China’s CSC Jiangsu Jinling shipyard, according to lloydslist.com.

China Ship Fund was floated two years ago by Centrans and the local government of Tianjin with an investment of $3bn.