Stocks that Float: TANKERS & DRY BULK SHIPPERS

[xanadu90]

GM Shippingfans. GDOCF news:

"GOGL - Acquisition of 8 Kamsarmax Newbuilding Contracts

Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to advise that the Company has acquired eight newbuilding contracts at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China.

The vessels of 80.000 dwt will be delivered quarterly from September 2009.

The delivered cost for the eight vessels is estimated to be about $410 million in total."


FYI: Kamsarmax 82.000 DWT is a Panamax vessel with extended length to 229 meter and a little wider breadth. Kamsarmax is the biggest type of ship, which can be loaded/unloaded in Port Kamsar, Equitorial Guinea. Port Kamsar is the biggest shipping port of bauxite, ca 30% of world's production (bauxite is needed to make aluminium).

Quintana Maritime QMAR $27.50 has 14 Kamsarmaxes of its 29 bulkers.


http://norma.netfonds.no/release.php?id=20071029.Hugin.1163633