In March this year, Bestway, along with Tianjin Dajin Heavy Industry, Jiangsu New Yangzi Shipbuilding, and Jiangsu Tianhong Ship Import and Export Company, jointly inked contracts with H. Vogemann Reederei Services to build four 40,000 dwt bulk carriers.

In May, these parties inked supplement agreement to extend the execution date of the contracts till June. Finally, the German owner exercised all four vessels’ contract as Bestway announced.

H. Vogemann Reederei Services currently has 12 newbuilds construction orders spread over China’s New Yangzi Shipbuilding, Hantong Shipbuilding and Yangfan Shipyard.