Jinhai Heavy Industry (formerly Zhoushan Jinhaiwan Shipyard) in China has signed a construction contract for 21 ships from compatriot Grand China Logistics.

The agreement includes six 320,000t tankers, six 180,000t bulkers and nine 80,000t bulkers.

The order-intake marks the first new order after Grand China Logistics acquired a stake in the shipyard and changed its name.

The company expects to deliver the ships by 2012.