Cargotec Receives an Order from Chinese Shipyard
A Chinese state-owned shipyard has ordered MacGregor variable frequency drive cranes and folding-type hatch covers for Greek bulk shipping operator Ariston Navigation's six new generation 35,000 dwt bulkers. The contract is booked into Cargotec's second quarter order intake. Deliveries are scheduled for 2013 and 2014. Ariston Navigation Corporation, part of the family-owned Xylas Group, has ordered a series of 35,000 dwt handysize Seastallion vessels from the shipyard. New ships have been designed with a versatile specification and are planned for worldwide trade.
China Shipping to Buy Two Tankers
Bulk shipping operator China Shipping Development is spending $87m on another two oil tankers to boost capacity. The new tankers, each with a capacity of 46,000 deadweight tons, are due for delivery between the fourth quarter of 2007 and the first quarter of 2009. Upon delivery, the shipping operator will control a fleet of 71 oil tankers with a combined carrying capacity of 3.5 million deadweight tonnes. The purchase of the two new vessels will be financed by bank borrowings, increasing the company's gearing ratio. China Shipping said it is optimistic about demand in the oil transportation market and expects growth in the coming years.
Greek Bulk Operator To Merge Capesize, Panamax Fleets
Greek bulk shipping operator Ceres Hellenic said on Thursday it had agreed to merge its Capesize and Panamax fleets with those of Italy's Coeclerici, creating one of the world's largest bulk carrier fleets. The ships will be operated by a new joint venture between the two private companies, Coeclerici Ceres Bulk Carriers (CCBC), which brokers said would be among the top six players in the transport of coal, grain and iron ore. The two fleets have been working alongside each other for 18 months under a pooling alliance, Coeclerici Transport, in which Coeclerici handled commercial management and Ceres dealt with operations, said a Ceres spokesman.
