Chinese owner Hebei Ocean Shipping Co (Hosco) is reportedly in the process of selling contracts for eight 180,000-dwt bulkers at domestic Qingdao Beihai Shipbuilding Heavy Industries.
The ships, due for delivery in 2009 and 2010, are said to have fetched around $70m each. They were ordered as late as December 2006 for some $68m each.
Sources say the ships are being picked up by a German KG (limited partnership) company and taken back on long-term charter by Hosco, possibly for 15 years. If a KG company is behind the deal, it is likely to be a time charter, German sources tell TradeWinds.
Since December 2006, Hosco has ordered 16 capesizes, 12 of them from Qingdao and four from Dalian Shipbuilding.
The ships, due for delivery in 2009 and 2010, are said to have fetched around $70m each. They were ordered as late as December 2006 for some $68m each.
Sources say the ships are being picked up by a German KG (limited partnership) company and taken back on long-term charter by Hosco, possibly for 15 years. If a KG company is behind the deal, it is likely to be a time charter, German sources tell TradeWinds.
Since December 2006, Hosco has ordered 16 capesizes, 12 of them from Qingdao and four from Dalian Shipbuilding.