Hebei Ocean Shipping Corporation (HOSCO) has commissioned Qingdao Beihai Shipbuilding Industry and Wuchang Shipbuilding Industry in China to build 14 Kamsarmax vessels at a cost of $490m.
The newbuild order includes four confirmed vessels and four options at Qingdao Beihai, and four ships and two options from Wuchang.
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HOSCO expects Wuchang to deliver the first bulker by 2011.
Qingdao Beihai will deliver its vessels in 2012 and 2013, according to asiasis.com.
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