China in bulker mode

China Shipping Development Co plans to order four very large ore carriers (VLOCs) from Chinese shipbuilders for a total of $470 million. Each vessel will have capacity of 300,000 dead weight tonnes.

The company also plans to order ten 57,300 DWT bulk carriers for a total $386 million from China Shipping Industry (Jiangsu) Co Ltd, a wholly owned subsidiary of China Shipping (Group) Co which also controls China Shipping Development. The bulkers, aimed at reinforcing the company’s domination of coal transportation along the coast, will be delivered between 2011 and 2012, China Shipping said.