Denmark's oldest shipping company -- Norden signed a purchase agreement in Beijing Wednesday with China's leading shipbuilder -- CSSC for three new vessels worthy US$105 million.

The agreement, signed between Denish Norden A-S and China State Shipbuilding Corporation (CSSC), involves two 38,500DWT Product Oil Tankers and one 53,500DWT bulk cargo ship.

The three vessels will be built by CSSC's Guangzhou branch -- the Guangzhou Shipyard International Company Ltd. and the Shanghai-Chengxi Shipbuilding Corp..

This is Norden's second deal with CSSC. In 2003, Norden ordered six 38,500DWT Product Oil Tankers from the Guangzhou Shipyard International Company Ltd, with one to be delivered this month.

CSSC currently accounts for about one-third of China's annual shipbuilding output of around six million dead weight tonnage. Around half of CSSC's orders come from offshore buyers.

(Xinhua News Agency December 2, 2005)