JES International secures contract for Post-Panamax bulk carrier

12 March 2014 (Last Updated March 12th, 2014 18:30)

Singapore-based JES International Holdings has secured a contract from a European customer for the construction of a 95,000dwt Post-Panamax bulk carrier.

Singapore-based JES International Holdings has secured a contract from a European customer for the construction of a 95,000dwt Post-Panamax bulk carrier.

The company has also secured options worth up to $120m that include the construction of three vessels of the same design.

This latest contract follows the company’s two recent deals for the construction of four Newcastlemax bulk carriers and options for four similar vessels.

JES has has secured contracts for six vessels worth $270m and options for seven vessels worth $302m.

"We are strategically positioned to catch these opportunities for reasonably priced jobs."

JES CEO and chairman Jin Xin said the group has been observing the market trend, which seems to be preparing for a recovery.

"While all is not certain yet, we have managed to secure some orders with decent pricing. Our world class 480m by 142m dry dock is ideal for the construction of large vessels like Newcastlemax and VLCC. We are certainly strategically positioned to catch these opportunities for reasonably priced jobs to keep the yard busy for the next few years," Xin said.

The 95,000dwt vessel is scheduled for delivery in September 2015, while the vessels under options, if finalised, will be delivered from November 2015.

JES’s fleet includes platform supply vessels, offshore accommodation vessels, jack up rigs and offshore drilling ships.