Grand China Logistics places large order

Zhoushan Jinhaiwan Shipyard in China has secured a bumper order for 30 bulkers from fast emerging Grand China Logistics, one of the largest single orders ever placed in China. Broken down, the vessels in the order were made up of 18 176,000 DWT Capesizes and 12 80,000 DWT Panamaxes at a total cost of over $2 billion.

The new buildings are scheduled to be delivered between the third quarter of 2010 and the second quarter of 2012.