Jiangsu-base Sainty Marine Corporation Ltd. Announced that its wholly-owned subsidiary Shungao Shipping recently concluded a $274.6m ship charter and purchase contract with an overseas owner. The contract value accounts for 66.5% of its annual revenue of 2011.
Sainty Marine signed the charter and purchase contract for six 64,000dwt bulkers on April 28 with the single-vessel company registered in the Republic of Marshall Island. The chartering period for the sextet is ten years and the charterer is to entitled to buy the vessel after three years’ chartering or obligatory to buy the vessels when the chartering expires.
According to Sainty Marine, the construction of the series will start in 2012 and the new-builds are scheduled for delivery by 2014.
It is reported that the ships are energy-efficient Panamax bulk carriers newly developed by Shanghai-based SDARI. The ship type is relatively common internationally with mature construction technology.