CNCo opts for Imabari

China Navigation Company (CNCo) has opted for a Japanese shipyard for its latest series of bulker newbuildings.

The Singapore-based shipowner confirmed that it has ordered four handysize ships at imabari Shipbuilding. No financial terms were disclosed. The 38,000-dwt ships are due to be delivered by 2016.

CNCo said the contract for the ships, which will be deployed by its dry bulk division Swire Bulk, were signed earlier this month.

“The company recognises the importance of the Japanese shipbuilding industry and is delighted to have successfully confirmed this order with Imabari Shipbuilding, given the company's reputation as a provider of handysize bulk carriers of the highest quality,” said Swire Bulk general manager Andrew Kidd.

“Swire Bulk is also grateful to Itochu Corporation for their support and we look forward to furthering this important relationship in the future."

Swire Bulk recently took delivery of its fifth Deltamarin-designed handysize bulker from China’s Chengxi Shipyard and has a further 19 of the B.Delta37 designed vessels due to be delivered in 2016.

In addition to the owned fleet CNCo has chartered 12 Japanese built loggers for delivery between 2013 and 2016 on a long-term basis.