Thailand’s Precious Shipping and China’s Taizhou Sanfu Ship Engineering have buried the hatchet and are working on a bulker newbuildings project.
Industry sources said Bangkok-based Precious has contracted the Chinese shipbuilding company to build four 64,000-dwt bulk carriers.
The deal marked the two companies’ first co-operation in seven years after the Thai shipowner lost a legal suit against the shipyard over fuel consumption issues on ultramax bulkers built by the yard.
