CMB confirms that its subsidiary Bocimar International has acquired
three capesize newbuilding vessels for a total purchase price of $188 million.
The first vessel, SWS 1028 (Shanghai Waigaoqiao Shipyard) - for
which Bocimar concluded a three-year time charter contract in April
2005 - is obtained from Teh Hu (Hong Kong). It concerns a 175,000
dwt newbuilding that will be delivered in the third quarter of 2006.
The other two vessels, SWS 1048 and SWS 1049, have been bought from
the
Golden Ocean group. These two 175,000 dwt newbuilding vessels
will be delivered in November 2006 and January 2007. For both
vessels a three-year time charter contract has already been
concluded with a Japanese and Korean charterer on favourable terms.
The purchase of these two vessels is still subject to the
finalisation of the contract documentation.
These new vessels make an ideal addition to Bocimar's current young,
modern and rewardingly-valued fleet. This transaction also
strengthens the relationship with the
Chinese yard SWS as, after the
delivery of these three vessels, 10 vessels belonging to Bocimar's
fleet will have been built at SWS.