Poland’s PZM orders eight bulk carriers from China

Construction of the vessels will begin this year, and deliveries are scheduled to begin two years later. The vessels are to have a cargo capacity of 38,000dwt each, Pawel Szynkaruk, chief executive of PŻM, told public broadcaster Radio Szczecin.

The company sent out invitations to bid for the contract to Polish and Japanese shipyards, but eventually handed the order to a Chinese shipyard.

The amount of the deal was not disclosed by the PŻM. Under its previous fleet modernisation program, the company ordered 38 carriers from Japanese and Chinese shipyards. The acquisitions were worth $1 billion.

The Chinese shipyards which have supplied ships to PŻM include Xingang, Jingjiang New Times Shipbuilding and Mingde.

Set up in 1951 and based in Szczecin, Poland, PŻM operates a fleet of 75 vessels with a capacity of between 16,600 dwt and 82,000 dwt. The operator handles 20m tonnes of cargo per year and has a 0.5% share in the global freight market, according to data from PŻM. The company has a workforce of over 3,050.