Marine Capital and Sinopacific Sign Four Ship Deal

Sinopacific Shipbuilding Group and Marine Capital Ltd (MCL) have entered an agreement for the construction of four Crown 63 bulkers to be built at Yangzhou Dayang Shipyard, China.

The deal, which is worth over $100 million, marks another significant step for MCL in its management activity, the compnay said. It is understood the bulkers, a new model of super fuel-efficient ships with the added advantage of significant reduction in CO2 emissions, are destined for MCL’s vehicle Eclipse Shipping and will be operated by MCL in the open market.

Deliveries for the four ships will commence during the second half of 2014 and continue into the first quarter of 2015. It is understood that all four ships will fly the British Flag.

The Crown 63 series is designed for the transportation of a range of major bulk cargoes including coal, iron ore, grains and cement, as well as heavy cargos such as steel pipes and products. The ships offer increased deadweight combined with fuel efficiency and time-saving cargo operation.

The agreement was arranged by Hartland Shipping Services.