Hope for ailing JES Int'l as it wins big ship contracts
Anita Gabriel
THE good times may be starting for Chinese shipbuilder JES International Holdings, which has been dogged by bad news in recent months.
The mainboard-listed firm said its wholly-owned Jiangsu New East Marine Engineering Co has snagged contracts to build and deliver six Ultramax bulk carriers plus five options to build a total of 30 similar carriers collectively worth US$974 million.
The job to build the 64,000 deadweight tonne (dwt) carriers was awarded by a firm registered in the British Virgin Islands which is backed by two private investment funds.
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