Hong Kong-based Cido Shipping is said to have returned to shipyards in China for the first time in 15 years for dry bulk tonnage.
Shipbuilding sources said the South Korean shipowning company has contracted two shipyards in Jiangsu province to build a total of 12 midsize bulk carriers worth around $412m.
Sources following the activities of Chinese shipbuilders said Cido has struck a deal with Jiangsu New Hantong Ship Heavy Industry for eight newbuildings: four 82,000-dwt kamsarmax and four 64,000-dwt ultramax bulkers.
