China: COSCO Nantong Shipyard to Build Two Vessels for JOSCO

Jiangsu Ocean Shipping (JOSCO) has chosen the right time to rejuvenate its fleet with  new vessels taking advantage of the situation on the market characterized by low prices and eco-design of newbuildings.

Namely, JOSCO has entered into a shipbuilding contract with COSCO Nantong Shipyard for construction of two 61000 dwt bulk carriers with expected delivery in the first half of 2014, SinoShip News portal reports.

The financial details of the contract have not been disclosed yet, however the price of the units is estimated to be USD 25 mil respectively.

JOSCO currently operates a fleet of 19 vessels.

[mappress]

Shipbuilding Tribune Staff, January 07, 2013