Korean and Chinese yards bag orders

Hyundai Vinashin Shipyard (HVS) in Vietnam signed two more PCTC conversion from Eukor Car Carriers Inc. The new order also attaches two more options. HVS will extend ship length by 28.8m and install bow thrusters. When the conversion work is completed, car carrying capacity of each ship will be increased to 7,740 units from current 6,400 units.

Target Marine in Greece is rumored to order four plus six options at the value of $400 million. Ship types are 2,500TEU container ships, Panamax bulkers, handy bulkers and product carriers and deliveries will be made from late 2008 to 2010.

Cosco Shipyard wins huge new orders including bulkers. Cosco Zhoushan Shipyard signed new building contract with a Turkish company to build six 57,000dwt bulk carriers at a total contract value exceeding $200 million with delivery of 2008 and 2009.

Cosco Nantong Shipyard signed a $34.6 million contract with a US company to convert a cable-layer into a pipe-laying vessel. The project will commence in March and is slated for completion in December 2007.

Cosco Dalian Shipyard signed a $16.1 million conversion contract with a Dutch company to lengthen a dredger by 51metres. This contract is targeted for completion in February 2008.