Cosco Shipping Heavy Industry’s Yangzhou shipyard has secured bulker newbuildings worth around $216m from a company believed to be linked to Ghassan Ghandour.
Industry sources say Athens-based Hermes Marine Management has contracted the yard to construct four firm 82,000-dwt kamsarmaxes for delivery in 2020. The deal includes options for four more vessels.
An official at Cosco Yangzhou declined to comment on whether Hermes was behind the contract, although he did confirm the yard is in newbuilding discussions with...
