In the past week, three renown European ship owners placed three large orders for four 6,600TEU containership and ten 205,000DWT bulk carriers.

Shipbuilding contract for ten 205,000DWT bulk carriers was placed on 26 June, a rarely seen large order for Chinese ship yards in the first half of 2011. The vessels are tailor-made ship types with shallow draft and lower fuel consumption (daily consumption less than 60 tonnage).

Two European customers placed orders for four 6,600TEU containerships.Designed with latest technology, the vessels are more environmental friendly. The speed has been reduced from 25 to 21 knots and the ballast water capacity were also reduced to achieve higher fuel efficiency.

The vessel models under the three new contracts are incorporating the same environmental features highlighted by lower NOx and SOx emissions in compliance with Tier II emission standards of the International Maritime Organisation (IMO). In the prevailing market, most vessel owners require shallow draft vessels with low oil consumption as they are more cost efficient, and low emission vessels fit current international requirements and market demands.