China Shipping to build 4 new ships

China Shipping Development’s Hong Kong subsidiary will invest about US$220 million to build four 180,000 deadweight-ton (DWT) bulk cargo ships at Shanghai Jiangnan Changxing Heavy Industry’s shipyard.
Dead weight tonnage is one measure of how much a ship can safely carry. It refers to the maximum weight of a ship when loaded up to its summer Plimsoll load line and is the sum of the weight of the cargo, crew, fuel, passengers and stores.
China Shipping Development’s board of directors also approved plans to establish a liquefied natural gas (LNG) joint venture with a subsidiary of Sinopec Kantons Holdings.
CapitalVue reports the registered capital of the joint venture will be US$5 million, of which China Shipping Development will contribute US$3.5 million and hold a 70% stake in the joint venture.