China: Rongsheng Signs Contract with Golden Union for Panamax Bulk Carriers

On 17th May 2011, China Rongsheng heavy industries signed a contract with Golden Union, a Greek shipowner, for 2+2 Panamax bulk carriers, further enhancing the Company’s orders on hand.

This is the second order placed by Golden Union in 2011, following 2 panamax bulk carriers placed earlier. Up to date, the company is holding orders of 4+2 panamax bulk carriers from Golden Union.

The company had delivered 2 panamax bulk carrier and 1 capesize bulk carrier for this customer in the past.

Golden Union was founded in 1977 in Greece. Up to date, Golden Union operates a fleet of over 20vessels and is a top operator in Greece for bulk goods.

In 1Q 2011, China Rongsheng heavy industries was granted around 400 minute USD shipbuilding contract. The new orders enlarge our backlog. Golden Union as a repeat customer shows their approval and trust in Rongsheng Heavy Industries and reassured our reputation in shipbuilding industry, laying a solid foundation for future growth.


Source: RongshengHI, May 19, 2011.