Counterparty Default Insurance News

Earlier this month Bohandymar Limited – a 100% subsidiary of CMB – ordered 6 Handysize ECO-type bulk vessels (36.000 dwt) from Samjin Shipbuilding Industries Korea (Samjin) on very competitive conditions. The order includes two options each for two additional units. The delivery of the first four units is scheduled for 2013; and the others are scheduled for 2014. These vessels will be built according to the most modern specifications and are highly environmentally-friendly. The design offers a 30% fuel saving – as compared to vessels of the previous generation – and consequently a much lower CO2-emission. The vessels will also be equipped with a ballast water management system and are furthermore extremely flexible as regards the type of cargo they are able to carry.