China Shipping Development Co., Ltd., a marine cargo transportation service provider in the country, December 22 posted an announcement that the company and its solely owned unit China Shipping Development (Hong Kong) Marine Co., Ltd. inked USD 351.2 million contracts to manufacture five oil carriers for independent third parties.
In detail, China Shipping Development Co. clinched USD 159.84 million contracts to build three 110,000-tonnage finished oil and crude oil tankers for Dalian Shipbuilding Industry Co., Ltd. and China Shipbuilding & offshore International Co., Ltd. The vessels are expected to be delivered in August, October and December 2012.
China Shipping Development (Hong Kong) Marine Co. signed USD 191.36 million contracts to build two 320,000-tonnage crude oil tankers for the two companies. The carriers are scheduled to be delivered in June and September 2013.
The announcement indicates that the shipbuilding expenses will be paid in the US dollar in five phases. The shipbuilding will make no significant impact on the company’s asset-liability ratio and working capital.
In detail, China Shipping Development Co. clinched USD 159.84 million contracts to build three 110,000-tonnage finished oil and crude oil tankers for Dalian Shipbuilding Industry Co., Ltd. and China Shipbuilding & offshore International Co., Ltd. The vessels are expected to be delivered in August, October and December 2012.
China Shipping Development (Hong Kong) Marine Co. signed USD 191.36 million contracts to build two 320,000-tonnage crude oil tankers for the two companies. The carriers are scheduled to be delivered in June and September 2013.
The announcement indicates that the shipbuilding expenses will be paid in the US dollar in five phases. The shipbuilding will make no significant impact on the company’s asset-liability ratio and working capital.