Target orders ten Panamax bulkers

Target Marine in Greece has placed an order for four plus six 81,000DWT bulk carriers with C& Heavy Industries in South Korea at the price of $ 400 million. They will be delivered from late 2008 to mid 2010. Ship particulars are 229m in length, 32.2m in breadth and 20.1m in depth.

C& Heavy Industries was formed in November last year with capital of W 10 billion at Mokpo. The Korean company will complete the shipbuilding facilities by the first half of next year including a 600 tonne goliath crane and floating dock.