A Hong Kong subsidiary of China Shipping Development has signed an agreement to purchase four 180,000dwt bulk cargo ships for $212m. The agreement is between Shanghai Jiangnan Changxing Heavy Industry and China Shipbuilding Trading. The cargo ships are expected to be delivered i
A Hong Kong subsidiary of China Shipping Development has signed an agreement to purchase four 180,000dwt bulk cargo ships for $212m.
The agreement is between Shanghai Jiangnan Changxing Heavy Industry and China Shipbuilding Trading.
The cargo ships are expected to be delivered in November and December 2012.
Around 20% of the acquisition will be funded by the company while the remaining 80% will be loaned by banks, according to China Securities Journal.
