China Shipping Dev to buy four ships for $ 400 mln

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SHANGHAI, Oct 11 (Reuters) China Shipping Development Co <600026.SS> said on Thursday it would buy four very large ore carriers (VLOCs) from Chinese shipbuilders for 0 million to develop its ore import business.

Each ship will have capacity of 230,000 deadweight tonnes, said the company, one of the country's biggest shipping firms. It said the purchase would be funded from the company's own resources or through bank loans.

Last month, China Shipping Development said that in another deal, it would buy four large iron ore carriers for 0 million.

Reuters DKS VP0610

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