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Hope for ailing JES Int'l as it wins big ship contracts

Anita Gabriel

Published Thu, May 22, 2014 · 10:00 PM

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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