TOKYO: Giant Japanese trading house and Panamax operator Orix is
reported to have placed an order for a Panamax bulk carrier at Sasebo
Heavy Industries in Japan.
The order appears to have been placed after the shipyard failed to reach
agreements with Suisse-Atlantique and other European owners on their
newbuilding projects.
The vessel is lined up for delivery in mid-1998 and has an estimated
value of around USD 27m.
