China Steel Express, the shipping unit of Taiwan’s steel giant China Steel, has announced that it has placed an order for two 200,000dwt capesize bulkers at Mitsubishi Heavy Industries.
The two bulkers cost $105m in total and deliveries are scheduled in the second half of 2014 and first half of 2015.
China Steel Express said it is taking advantage of the low ship prices to update its fleet by replacing old vessels with newbuildings. The total capacity of the fleet will be increased to 3.2m dwt by 2015, and the current fleet expansion plan which was started two years ago has also finished after these orders.