China Merchants Group (CMG) companies have revealed new bulkers orders, as well as selling tanker tonnage.
Subsidiary Ming Wah Shipping has signed up for four, 61,000-dwt bulker newbuildings at Jinling Shipyard for delivery in 2022. It is not known if there is any option attached to the contract.
Ming Wah is paying around $29.7m each for the newbuildings.
A shipbuilding player told TradeWinds that the cost of the bulkers is on the high side as they are multipurpose carriers.
