(Yicai Global) Feb. 2 -- Shares in Bestway Marine & Energy Technology rose today on the news that a unit of the Chinese shipbuilder will supply German shipper Este Verwaltungs with 12 dry bulk vessels in a deal worth EUR88.6 million (USD107 million).

Bestway Marine [SHE:300008] closed up 2.59 percent at CNY5.15 (USD0.80) today.

Jiangsu Dajin Heavy Industry will build 12 multifunctional dry cargo ships for Este, which is in the process of changing its name to JSP Coaster Verwaltungs, each capable of carrying loads of 5,200 tons, the parent firm said yesterday.

The first six vessels should be delivered between January and July 2020, it said. The Jork-based firm has until July this year to confirm the commission for the remaining six carriers, which will be delivered between October 2023 and July 2024 if the order is placed, it added.

Should the full contract be executed, the value will be more than double the Shanghai-based shipbuilder’s revenue in 2019 and is expected to have a very positive effect on the company’s operations over the next few years, it said.

Dry cargo carriers transport dry bulk commodities, such as coal, gains and metals, that are unpacked and homogenous, which allows for easy loading and offloading as they are simply poured into the ship’s hold.

300-year-old Este mainly transports goods in small batches from the Baltic Sea to major European ports including Hamburg in Germany, Rotterdam in the Netherlands and Antwerp in Belgium.

Editor: Kim Taylor