Guangdong Yudean Shipping has chosen CSSC’s Chengxi Shipyard to construct two kamsarmax bulk carriers. As the dry bulk shipping division of the state-run power conglomerate Yudean Group, Guangdong Yudean Shipping has placed an order for two new kamsarmax bulk carriers valued at approximately $71 million. China-based Guangdong Yudean Shipping is investing more than $71 million in the construction of bulker newbuildings at Chengxi Shipyard. Sources from the shipbuilding industry have revealed that the shipping arm of Guangdong Energy Group has opted for China State Shipbuilding Corp (CSSC) as the shipyard responsible for delivering the two kamsarmax bulk carriers in February and April 2027. In April, Guangdong Yudean Shipping initiated the tender process for the construction of the kamsarmax bulk carriers, stipulating that the vessels with a capacity of 82,000 deadweight tons (DWT) should be delivered within 45 months from the signing of the contract. 13-June-2023
China’s largest private bulk carrier owner, Fujian Guohang Ocean Shipping, and the state-owned Guangdong Yudean Shipping have merged to form a fleet of 58 bulk carriers. The Chinese dry bulk shipping industry is shifting its focus inward as the domestic markets show improvement, prompting the collaboration between the largest private bulk carrier operator in China and a prominent power company. Fujian Guohang Ocean Shipping Group Co Ltd, the leading private bulk carrier owner in China, emphasizes that its strategic alliance with the state-owned Guangdong Yudean Shipping Co Ltd signifies a comprehensive business integration that is currently in its early stages. This consolidation of chartering and other operational domains comes in response to an impressive 814% surge in net profits during the first half of the year, reaching $16.2 million for Fujian Guohang Ocean Shipping Group Co Ltd. 5-September-2018
Guangdong Yudean Shipping, the dry bulk shipping division of the state-run power conglomerate Yudean Group, has forged an agreement with Shanghai Guodian Shipping, a subsidiary of Fujian Guohang Shipping, to initiate a series of collaborative endeavors in various maritime domains, encompassing ship chartering and ship management. Under this latest partnership, Yudean Shipping has entered into a one-year charter for the vessel named Guo Yuan 12, a panamax bulker built in 2011, from Shanghai Guodian Shipping. In May, Guangdong Yudean Shipping entered a similar contractual arrangement with Fujian Shipping Group, wherein they chartered the vessel named Dong Fang Sheng, a panamax bulker built in 1990. Currently, Guangdong Yudean Shipping currently commands a fleet of 23 bulkers, comprising panamax, post-panamax, and supramax vessels. 19-June-2018
China’s state-controlled maritime companies, Guangdong Yudean Shipping and Fujian Shipping Group (Fusco), have proclaimed their most recent charter agreement as a shining example of Communism in motion. This assertion emerged as the firms unveiled Guangdong Yudean Shipping’s year-long charter of a seasoned panamax vessel, the 69,300-dwt Dong Fang Sheng (constructed in 1990), acquired from Fujian Shipping Group (Fusco). They consider this move as an initial stride toward a more extensive and strategic cooperative framework, solidified by an agreement they inked in April. Celebrating this partnership, the state-controlled shipowners, Guangdong Yudean Shipping and Fujian Shipping Group (Fusco), regard it as a significant testament to their commitment to implementing the principles espoused by the Chinese Communist Party’s 19th Congress through practical endeavors. 23-May-2018
The dry bulk shipping division of the state-run power conglomerate Yudean Group, Guangdong Yudean Shipping, has ordered a panamax bulk carrier from Shanhaiguan yard. China’s state-owned Shanhaiguan Shipbuilding has received an order for a new bulker from a domestic owner. Guangdong Yudean Shipping, a subsidiary of Guangdong Yudean Group, has chosen the China Industry Shipbuilding Corp (CSIC)-controlled yard to construct a solid 76K DWT panamax bulk carrier, scheduled for delivery in the first half of 2017. The agreement also includes an option. While the exact price remains undisclosed, experts estimate it to be slightly above $25 million. A reliable source confirms the order, mentioning that the contract was signed some time ago. It is reported that Guangdong Yudean Shipping intends to utilize the bulker for transporting coal on domestic routes. 30-July-2015
China’s state-owned Guangdong Yudean Shipping is currently offering notes for sale. The objective of Guangdong Yudean Shipping is to raise $48 million by issuing short-term notes of unsecured nature. These notes have a maturity period of 365 days. Guangdong Yudean Shipping intends to list the notes during this week. The rating agency Shanghai Brilliance has assigned an AA rating to Guangdong Yudean Shipping, with the bills receiving an A-1 rating. China Construction Bank is acting as the book runner and lead underwriter for this offering. The proceeds from this sale will be utilized to replenish the working capital of Guangdong Yudean Shipping and repay its outstanding bank loans. It’s worth noting that Guangdong Yudean Shipping, which controls 24 ships, is a subsidiary of the mining and energy behemoth, Guangdong Yudean Group. 15-June-2014