Global Chartering signs four newcastlemaxes at Chinese shipbuilder CMSI

China Merchants Shipbuilding Industry Group (CMSI) has confirmed an order for a series of bulk carriers with Global Chartering as the dry bulk expert moves ahead with fleet expansion.

Global Chartering, the 50:50 joint venture between steelmaker ArcelorMittal and dry bulk expert DryLog, has finalized an agreement with China Merchants Shipbuilding Industry Group (CMSI) for the construction of four newcastlemax bulk carriers.

The contract value is estimated at approximately over $290m.

The shipyard had disclosed a contract for four 211,000-dwt vessels.

The four 211,000-deadweight-tonne bulk carriers will enhance Global Chartering’s capacity for transporting raw materials, supporting both steel production and international shipping operations.

The contract signing ceremony took place in Hong Kong and was attended by key representatives from all parties.

The ceremony was attended by Viral C Vora, vice president of ArcelorMittal Shipping; Yannis Haramis, CEO of Global Chartering; Capt. Nitin Mehrotra, general manager of ArcelorMittal Shipping; Wu Sichuan, chairman of China Merchants Shipbuilding Industry; and Peng Sheng, executive deputy general manager of Qingdao Shipyard, among others.

Speaking at the event, Yannis Haramis, chief executive officer of Global Chartering, said: “This agreement marks