Orders continue to flow into China

The latest Chinese shipyard to benefit from the renewed flow of newbuilding orders is Jiangsu Hantong Ship Heavy Industry. An undisclosed shipowner from Southeast Asia has placed an order for seven 57,000 dwt bulk carriers at a cost of around $29.3 million each for delivery during 2010-2011.

Hantong is a modern, mid-sized newbuilding and repair yard that was set up in 2005 as a joint venture between a Korean investor and Nantong Ocean Water Construction.

In addition, unconfirmed reports suggest Shanghai Waigaoqiao Shipyard has booked its first orders of the year for six 319,000 dwt VLCCs from one or more undisclosed shipowners, for 2012-13 delivery.