Bocimar Expands Newbuild Program
Thursday, December 13, 2007
Bocimar has expanded its newbuilding program with the acquisition of two newbuilding Capesize vessels.
The first has been ordered from Imabari (Japan). The purchase price of this 180,000 dwt unit amounts to $108 million and delivery is expected to take place in the course of the first quarter 2010.
The second vessel – 177,000 dwt – has been ordered from the SWS yard in China. The purchase price
amounts to $115.5 million with delivery scheduled for December 2008/January 2009.
Recently Bocimar reached an agreement in principle with the Australian mining group Fortescue Metals
Group (FMG) for the transport of iron ore from Australia to China. The agreement includes the use of two
vessels, one for a period of 10 years and one for a period of 5 years, and covers the transport of
approximately 30 million tons of iron ore.