A newly established shipping company in Hong Kong is planning to order up to 20 bulker newbuildings worth around $760m.
The Chinese-owned Tianyuan Logistics Shipping wants to order 10 mini-capesize and 10 newcastlemax bulkers to transport cargoes for its parent company Ningxia Tianyuan Manganese Industry Co.
Chinese shipbuilding players say Tianyuan Logistics has approached state-owned and privately-owned shipyards for the ships.
