China Steel Express

Taiwan state-owned shipowner and operator China Steel Express Corporation (CSE Bulk) sold 2006 built newcastlemax bulk carrier 203K DWT MV China Steel Team and 2007 built newcastlemax bulk carrier 203K DWT MV China Steel Entrepreneur for around $35 million total. Kaohsiung-based shipowner and operator China Steel Express Corporation (CSE Bulk) sold newcastlemax bulk carriers to Athens-based Alberta Shipmanagement. The sale to the Nicholas Inglessis family-controlled Alberta Shipmanagement breaks the China Steel Express Corporation’s (CSE Bulk) streak of selling the company’s surplus tonnage into China through Taiwanese compatriot Eddie Steamship. Kaohsiung-based shipowner and operator China Steel Express (CSE Bulk) was established in 1996 by China Steel which is 20% owned by the Taiwanese government. China Steel, the parent company of China Steel Express Corporation (CSE Bulk), has a production capacity of 10 million tons of crude steel annually. 17-November-2022

 

Kaohsiung-based shipowner and operator China Steel Express Corporation (CSE Bulk) has put on the market to sell capesize bulk carriers:

  • MV China Steel Growth (2002 built 176K DWT)
  • MV China Steel Excellence (2002 built 176K DWT)

Taiwanese shipowner and operator China Steel Express Corporation (CSE Bulk) has been in the fleet renewal programme. Furthermore, China Steel Express Corporation (CSE Bulk) is planning to sell four (4) more vintage capesize bulk carriers as the company receives the delivery of eight (8) new-building bulk carriers. China Steel Express Corporation (CSE Bulk) is the shipping arm of Taiwan’s largest steel producer. MV China Steel Growth and MV China Steel Excellence might be paid around $20 million en bloc.

Depending on shipping market conditions, China Steel Express Corporation (CSE Bulk) is aiming to offload all vintage capesize bulk carriers till 2023. Additionally, China Steel Express Corporation (CSE Bulk) is aiming to sell other vintage capesize bulk carriers in the fleet:

• MV China Steel Integrity (2002 built 176K DWT)
• MV China Steel Responsibility (2003 built 176K DWT)

China Steel Express Corporation (CSE Bulk) has been selling vintage bulk carriers as the company started taking delivery of eight (8) 208K DWT new-building bulk carriers in 2019. Four (4) of these new-building bulk carriers are scrubber-fitted. As of 1 January 2020, according to IMO (International Maritime Organization) sulfur cap, scrubber-fitted ships will continue consuming high-sulfur fuel oil. On the other hand, non-scrubber-fitted ships will have to use bunkers with no more than 0.5% sulfur content. This situation created a widespread between high-sulfur and low-sulfur bunker prices. Therefore, estimated daily earnings of scrubber-fitted capesize bulk carriers surpassed non-scrubber-fitted capesize bulk carriers by $8,100 per day. Eventually, the spread will narrow as the production of IMO (International Maritime Organization) 2020 Rules compliant bunkers will increase in the market.

Kaohsiung-based shipowner and operator China Steel Express Corporation (CSE Bulk) was established in 1996 by China Steel which is 20% owned by the Taiwanese government.
Currently, China Steel Express Corporation (CSE Bulk) has a fleet of nineteen (19) capesize bulk carriers, and seven (7) handysize bulk carriers. China Steel Express Corporation (CSE Bulk) use capesize bulk carriers to import coking coal and iron ore and use handysize bulk carriers to export steel products. Mainly, China Steel Express Corporation (CSE Bulk) is responsible for the shipping requirements of China Steel. Executives of China Steel Express Corporation (CSE Bulk) has a prudent approach when ordering newbuilding bulk carriers. For example, in 2017 and 2018, when newbuilding prices were at historic lows, China Steel Express Corporation (CSE Bulk) ordered two (2) scrubber-fitted capesize bulk carriers at $47.5 million each at compatriot Taiwan CSBC Shipyard and another two (2) at $46 million each. Furthermore, China Steel Express Corporation (CSE Bulk) also ordered two (2) non-scrubber-fitted capesize bulk carriers at Marine United at $45 million each and two (2) at $46 million each.

China Steel, the parent company of China Steel Express Corporation (CSE Bulk), has a production capacity of 10 million tons of crude steel annually. Currently, newbuilding non-scrubber-fitted capesize bulk carrier has a price tag of $49.5 million. So, the previous deal has generated huge profits for China Steel Express Corporation (CSE Bulk). In October 2019, IMO (International Maritime Organization) is determined to reduce CO2 emissions from international shipping by 50% from the 2008 level by 2050. Even though, Taiwan is not a member of IMO (International Maritime Organization), CSE Bulk’s (China Steel Express Bulk’s) ships will need to meet IMO (International Maritime Organization) regulations as these ships are traded in international waters. International shipping’s CO2 emissions war might cost around $1.4 trillion. 28-January-2020

 

Taiwanese shipowner and operator China Steel Express Corporation (CSE Bulk) has ordered four (4) newcastlemax bulk carriers 208K DWT at CSBC Corp shipyard a total of $184.8 million or $46.2 million each. China Steel Express Corporation (CSE Bulk) is in a fleet renewal and expansion programme. Taiwanese shipowner and operator China Steel Express Corporation (CSE Bulk) is aiming to reduce the number of old ships in its fleet. Taiwanese shipowner and operator China Steel Express Corporation (CSE Bulk) is going to receive two (2) new building newcastlemax bulk carriers during Q2 2019 and the other two (2) in Q1 2020. Taiwanese shipowner and operator China Steel Express Corporation (CSE Bulk) was established in 1996 and has a fleet of 21 ships. 21-January-2018

 

China Steel Express Corporation (CSE Bulk) sold two capesize bulk carriers for scrap 154K M/V China Steel Investor built 1997 and M/V China Steel Developer built 1998 for $5.9m each. Both capesize bulk carriers were serving China Steel Express since they were newly built. It seems that soon Taiwan China Steel Express will scrap 154K M/V China Steel Trader built 1997. 96 capesize bulk carriers scrapped in 2015 and so far 34 capesize bulk carriers scrapped in 2016. 31-March-2016