Shaghai-listed Ningbo Marine Group has unveiled plans to overhaul its fleet of coal carriers, with the shipping liner announcing an order for three 50,000DWT bulker newbuildings in a stock exchange filing.
The company will invest up to 520 million Yuan (US$92.9 million) in the three-vessel order, with each vessel worth over US$27 million, reported Eworldship.
Once built and delivered, the vessels will operate on China's coastal trade route.