Global logistics service provider Noble Group has awarded a $320m contract to Chinese shipping company Cosco Dalian to increase its bulk fleet.
The contract involves four 92,400dwt post-Panamax ships and one Capesize ship that is part of a joint order with Dutch company Vroon Group, which will deliver the four vessels.
The order is expected to enhance Noble Group’s capability to handle rising bulk transportation, the company said.
Noble Group is expected to receive the new vessels by the end of 2012.
Cosco Dalian, a wholly-owned subordinate firm of Cosco, operates and owns over 30 vessels.