09/06/13 - Cuba Standard.com - Shanghai shipyard delivers 10th bulk carrier to Cuba
CUBA STANDARD - State-owned Shanghai Shipyard Co. Ltd. delivered the
10th and last bulk cargo ship of a three-year order by Cuba, official media
Shanghai Shipyard Chairman Gu Tiquan presided the launch of the Josefa, the
last of the 35,000-ton carriers, accompanied by the Cuban ambassador in
Beijing, Alberto Blanco.
Neither of the two sides has revealed the financial terms of the order by
Cuba's Empresa Importadora General del Transporte (EIGT), on behalf of
Grupo Acemex, with Chinese state company China National Machinery Import &
Export Corporation (CMC). The purchases are financed by China's Eximbank.
According to observers, the order for 10 35,000-ton handymax vessels is
worth at least $250 million. The order came in September 2009, ending a
one-year drought for the state-owned shipyard.
The addition of 10 cargo ships boosted the tonnage of Cuba's merchant
marine and allow it to trade with far-flung partners such as Iran, Ecuador
or Angola. The addition of grain vessels will lower the cost of grain
imports for Cuba; foreign shippers charge a premium for serving Cuba
because the United States prohibits ships coming from Cuba to dock at U.S.
In August 2011, the shipyard in Shanghai delivered the first 35,000-ton
ship, the Abdala.
Employees of Cuban state company Acemex supervised the construction of the
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