Datang to Increase Fleet

14 September 2010 (Last Updated September 14th, 2010 18:30)

Datang Shipping in China has signed an agreement with sister firm Datang Finance to secure CNY280m ($41m) for a ship expansion programme. Under the 15-year agreement, Datang Finance will buy two 45,000dwt cargo carriers and two 76,000dwt cargo carriers. The vessels, to be construc

Datang Shipping in China has signed an agreement with sister firm Datang Finance to secure CNY280m ($41m) for a ship expansion programme.

Under the 15-year agreement, Datang Finance will buy two 45,000dwt cargo carriers and two 76,000dwt cargo carriers.

The vessels, to be constructed at CSSC Chengxi Shipyard and Jiangnan Shipyard in China, will be leased to Datang Shipping.

The company owns two 70,000dwt Panamax vessels and is planning to expand its fleet to transport coal to its coastal power plants.