Changhang Phoenix HongKong Co., Ltd, a controlling subsidiary of Chang Jiang Shipping Group Phoenix Co., Ltd (stock code: 000520), is about to sign an agreement on building 4 92,500-ton-level bulk cargo ocean ships with Nanjing Jinling Shipyard of China Changjiang National Shipping Group. The contract is valued at 192 million U.S. dollars with each ship costing 48 million U.S. dollars.