Shanghai Zhenhua Heavy Industries announced that the company had signed two contracts worth US$114m and RMB1.58bn separately.

The company has signed a sales contract with Brazilian company Girocantex Sociedad Anonima for 128 iron ore barges, which are due for delivery between 2013 and 2014, the total contract value is US$114m.

Zhenhua also has won a contract from Yantai Salvage Bureau of Ministry of Transport for the design, purchase and construction of 5000dwt salvage ships, the delivery period is during 2015.

Source: Sino Ship News