Shougang buys bulk carriers

PUBLISHED : Monday, 06 October, 1997, 12:00am
UPDATED : Monday, 06 October, 1997, 12:00am

Norwegian shipping group Leif Hoegh has entered into a contract with companies in Hong Kong controlled by the mainland's Shougang Group to buy two bulk carriers. Each ship is 210,600 deadweight tonnes and will be chartered out for up to 15 years to Shougang Concord International Transport. Total cost is US$100 million and delivery is expected in November.