Feb.12 -- Changjiang Shipping Group Phoenix Co Ltd, a listed unit of the country's largest river shipping firm China Changjiang National Shipping (Group) Corp, said its board has approved a proposal to order six bulk cargo vessels for a total contract price of 1.53 bln yuan.

The listed unit said in a statement that the ships -- which will be built by Bohai Shipbuilding Heavy Industry Co Ltd -- are designed to have capacity of 57,300 tons each.

Delivery of the vessels is scheduled to be before November 2010. Changjiang Shipping Group Phoenix added that it will fund the purchase mainly through bank borrowings.