FESCO orders supramaxes from China

The Russian Far Eastern Shipping Co (Fesco) is jumping on the supramax-bulker bandwagon with a series of newbuildings in China. The fast expanding Russian shipping company has returned to Jinling Shipyard for four 57,000 dwt bulk carriers for delivery in 2010.

These supramax newbuildings, which will not be built to the enhanced performance standards for protective coatings (PSPC), are said to be costing between $36m and $37m per ship and will be the company’s biggest bulkers.

Currently Fesco is reported to operate four handysizes of 33,800 dwt to 37,200 dwt.

Fesco went to China in 2004 when it contracted six 1,100-teu boxships at Jinling for about $19m each. The shipbuilder has since delivered four and is set to hand over the remaining two next year. Meanwhile, Vladivostok-based Fesco also has four 1,831-teu boxships under construction at Kouan Shipyard in China. They are slated for delivery from late 2007 through to early 2009. The company also has four 3,100-teu and three 1,700-teu containerships under construction at Poland’s Szczecin Shipyard. They are all set for delivery in 2008 and 2009.