Yangtze River Shipbuilding 'picks up' an order for a bulk carrier from Mingde Heavy Industry
2015-12-10 09:00
Mingde Heavy Industry The cancelled ships after the bankruptcy have become popular in the sluggish market.
It is reported that Canadian shipowner Algoma Central ordered two 29,400-dwt self-unloading bulk carriers from Yangzijiang Shipbuilding. This construction contract was signed some time ago, but was only officially confirmed this Monday after Algoma received a prepayment guarantee from Yangzijiang Shipbuilding.
Previously, Algoma also ordered another three self-unloading bulk carriers from Uljanik shipyard in Croatia. Together with the two from Yangzijiang Shipbuilding, Algoma plans to use these five new vessels to replace the four self-unloading bulk carriers cancelled after the bankruptcy of Mingde Heavy Industry. The latest two will be delivered in the first half of 2018; the specific price has not been disclosed.
It is understood that this order is part of Algoma's Equinox newbuilding project. The new vessels are of Seawaymax design and can pass through the St. Lawrence Seaway connecting the Great Lakes in the US and Canada. Algoma's Equinox newbuilding project currently has a total of seven vessels under construction.
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