Shanghai Waigaoqiao Shipyard (SWS) yesterday sold the first in a new line of cargo vessels with the world's largest tonnage to a Belgian shipping company.

SWS signed the contract for the 177,000-ton Capesize vessel in Shanghai with BOCIMAR, a shipping company affiliated to Belgium's CMB Group.

The boat is expected to be delivered to the Belgian firm in 2007.

Capesize is 292 metres long, 45 metres wide and 24.8 metres deep, and is designed to enjoy a sea gauge of 18.3 metres and a speed of 15 knots.

"We are deeply impressed with the work of SWS and I believe our friendship and co-operation will last for a long time," said BOCIMAR Chairman Mark Saverys.

BOCIMAR has signed contracts for four 175,000-ton cargo vessels.

Belgium's Crown Prince Philippe and Princess Mathilde attended the naming ceremony of the fourth cargo ship yesterday.

The royal couple are in Shanghai to celebrate the 20th anniversary of its twinning with Antwerp in Belgium.

Princess Mathilde named the ship Mineral Belgium, wished it a smooth voyage and celebrated Belgium-China friendship.

Capesize cargo boats previously had a maximum tonnage of 175,000 tons and a total length of 289 metres as they were restricted by the facilities at the port of Dunkirk in France.

But boats with a maximum tonnage of 177,000 tons can now call at the port following its refurbishment in 2003.

SWS reacted quickly to this development, getting its designers to increase the tonnage of their vessels by 2,000 tons.

The new vessel has attracted wide interest as experts believe it will be the backbone of the shipping market, which is demanding an increasingly large capacity.