Chipolbrok clinches crane-vessel deal

The Chinese-Polish Joint Stock Shipping Co, (Chipolbrok), has signed a contract to build six more crane-equipped vessels. The move comes as the company expands its fleet to capitalize on the rising demand of project cargo transport, and prepares for intense competition.

The world leader in project cargo transport will pay 2.3 billion yuan ($296 million) for the vessels to be built at COSCO (Dalian) Shipyard Co. The ships will be equipped with 640-tonne capacity cranes, and each vessel will be capable of carrying 30,000 tonnes of cargo. Deliveries will start from the end of 2008 until 201.

“With the relocation of the world’s manufacturing bases to China and other Asian nations, there’s increasing development room for project cargo transport, which has a higher profit margin,” said Sun Min, general manager of the company, which was China’s first Sino-foreign joint venture.

With the six new ships, Chipolbrok will have a total of 18 heavy lift vessels fitted with 640 tonne capacity cranes. The company spent about $100 million in 2001 for four 30,000 DWT ships which went into service in 2004 when the company shifted business focus from bulk cargo to project cargo. The shipping company carried more than 700,000 tonnes of project cargo last year, accounting for 45% of its total cargo.

“At present South Korea, Japan and China are the biggest project cargo sources given their strong manufacturing capacity,” Sun said. “The shipments are mainly for the US and European markets.” The company plans to open new routes to Persian Gulf countries as Middle East demand for larger equipment rises, he added.