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New tankers for LT Ugland

There’s good news for the Isalnd’s shipping registry – with three new bulk carriers on the way.

Norwegian shipping magnate Lars Ugland, who now lives on the Island, is having the vessels built in China for his company LT Ugland Bulk (IOM) Ltd.

The Supramax bulk carriers are being built at the Tsuneishi shipyard near Shanghai in a deal worth about £75 million.

They’ll go into service between November next year and October 2010.

Two have names so far - the Atlas Manx and Geraldine Manx.

LT Ugland Bulk is a new company supplying tonnage to bulk carrier operators.

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