China State Shipbuilding Corporation is building four new baby-Cape vessels at its subsidiary Huangpu Wenchong Shipbuilding.
Through CSSC Leasing, CSSC will time-charter the vessels to Cargill. The agreement with Cargill includes an option for two more vessels.
The vessels will weigh between 100,000 and 120,000 deadweight tonnes.
The ships will be delivered throughout 2020 and will be used primarily to ship coal and grains.
Ship management company Wah Kwong Group will oversee the technical management and crewing of the vessels.
