Valles Orders Aframxes in China

TRADEWINDS 18th July 2003

Valles Steamships of Hong Kong and Vancouver has broken with its usual tradition of ordering tonnage in Japan and signed up for a 110,000-dwt tanker at Hudong-Zhonghua in Shanghai.

The vessel is scheduled for delivery in the second half of 2005 and the deal includes an option for a second vessel.

No price has been disclosed for the vessel, which will be built according to the Dalian Shipyard aframax design.

Brokers estimate that the ship is costing in the region of $36.5m.