Zhong to Start Newbuild Programme

25 October 2010 (Last Updated October 25th, 2010 18:30)

Zhong An Shipping, part of Zhejiang-based Zhong An Real Estate, is in discussions to start its CNY2bn ($300m) newbuild programme. The shipping firm entered the industry last year with the acquisition of two capesize bulkers. The company's second vessel will come from a domesti

Zhong An Shipping, part of Zhejiang-based Zhong An Real Estate, is in discussions to start its CNY2bn ($300m) newbuild programme.

The shipping firm entered the industry last year with the acquisition of two capesize bulkers.

The company’s second vessel will come from a domestic yard.

Zhong plans to increase its fleet to 1.8 million dwt from 500,000dwt within the next three to five years, according to asiasis.com.