Shanghai Shipyard has reportedly won a $250m contract from state-owned Cuban company Acemex to build ten handysize vessels.

Each 35,000dwt vessel will cost $24m-$25m, Asiasis reports.

Acemex is believed to have booked five 12,600dwt multipurpose general cargo-ships in the past.

The contract has reportedly been brokered by Beijing-based China National Machinery Import & Export Corp.