CSC Phoenix to invest in shipbuilding

Chang Jiang Shipping Group Phoenix Co. Ltd. (CSC Phoenix), based in Wuhan, China, recently announced that it has commissioned Bohai Shipbuilding Heavy Industry Co. Ltd., a subsidiary of China Shipbuilding Industry Corporation, to build six 45,000-ton bulk carriers with the single ship contractual value of 282 million yuan (US$41 million) and the total purchase value of 1.692 billion yuan (US$246.2 million). CSC Phoenix added that the six ships will be completed and delivered starting at the end of March 2011 until the end of December 2011. (July 21, 2008)