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Beihai inks 82K BC pair

Author: Posttime:2011-08-12 10:00:04

Formosa Plastics Marine Corp (FPMC) has returned to the newbuilding scene after a four-year break.

The shipping arm of industrial conglomerate Formosa Plastics Group has ordered two 82,000-dwt bulker newbuildings from state-owned Qingdao Beihai Shipbuilding Heavy Industry in China for between $33.5m and $34m each with delivery scheduled for the second half of 2013.

Sources familiar with FPMC say the owner is also mulling signing up for several 205,000-dwt Newcastlemax newbuildings.

“Before the collapse of the financial markets in 2008, Formosa Plastics was planning to place up to four 205,000-dwt bulker newbuildings and was in talks with several shipyards over its requirements. But with the market downturn, it stopped the discussions,” said one market source.

“There is a possibility that the owner may revive its plan to build the Newcastlemaxes as we heard its parent company is building a new power plant.”


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