Mediterranean Shipping Co and German defence group Rheinmetall were awarded the auction for Romania's bankrupt Mangalia shipyard at 138 million euros, while COSCO Shipping Bulk contracted a further 16 multipurpose grain carriers at Fujian Shipbuilding in an order estimated near $800m.
Chinese yards took about 94% of the 62 firm orders tracked in the week to 18 October, headlined by MISC's five 174,000 m3 LNG carriers at Hudong-Zhonghua and up to 20 vessels at Fujian Shipbuilding.
Reports that Washington may license sanctioned tankers knocked up to 13% off Asian shipping equities, while International Seaways agreed a $370m takeover of Bruton that values modern VLCCs far above their yard cost.