Subscribe to RSS feedRio Tinto expands bulker fleet with bargain purchase of eight new ships
by
Michelle Wiese Bockmann
—
last modified
Jun 07, 2010 01:59 PM
RIO TINTO has bolstered its shipping fleet, buying eight 205,000 dwt bulk carriers earlier this month worth US$504m ($584m).
The order was made with Hanjin Heavy Industries’ shipyard at Subic Bay in the Philippines.
The US$63m price tag for each new ship is substantially lower than US$105m per ship the company spent in its last order in January 2008,...
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