Signing ceremony for two 180,000 DWT bulk carriers was held on July 6th, 2010 in Nantong Mingde Heavy Industry. With the witness of Mr. Qin Yan, Deputy Director of Jiangsu Economic and Information Technology Committee, Mr. Song Wenhui, Secretary of CPC Committee of Tongzhou District, Mr. Ji Fenghua, Board Chairman of Mingde Group and Mr. Zhu Hongbing, General manager of Mingde Group, Mr. Lin Feng, CEO of Cabot Shipping and Mr. Guo Jingbin, Vice general manager of Mingde signed the newbuilding contracts of two 180,000T bulk carriers. Later Mr. Lin Feng and Mr. Liang Junsheng, General Manager of Rich Mark Development signed the charter contract.

 

180,000 DWT bulk carriers is another project that we obtained over 100,000 DWT besides the minicap. It set a new record of the largest tonnage of Tongzhou district, which ranks the third in Nantong City. This is to indicate that we have made a further step on our company’s developing strategy “High Value-added Vessels First and Large Vessels Thereafter”.

 

The overall length of the 180,000 DWT bulk carriers is 291.95m, the breadth is 45.0m, the depth is 24.75m, the design drought is 16.5m, the coating area is 400,000㎡. She has 9 cargo holds with deadweight of 180,000 tons. The first vessel is to be delivered on Oct. 31st 2012. This vessel is improved on the base of the 176,000 DWT bulk carriers, and uses high-tensile steel to reduce lightweight and increase deadweight. She is a green vessel and will comply with PSPC. This is the second time that we implement PSPC in our yard after 25,000T chemical tankers.

 

The owner Cabot Shipping mainly deals with shipping investment and charter, of which large environmental-protected bulk carriers and off-shore engineering vessels are their dominating business. The charterer Rich Mark Development company is a mature company with their business spread out Oceania, South & North America, and Asian.