China’s New Times Shipbuilding has landed an order for up to eight supramax bulkers from Cyprus owner FrontMarine, which is linked to Lemissoler Navigation.
The Limassol-based company has confirmed the contract for the vessels, which are slated for delivery in mid-2015. No price has been disclosed, but brokers estimate it to be around $25m apiece.
FrontMarine says low prices combined with a positive forecast for shipping makes it the right time to place the order.
“We
