Shandong Shipping

28-April-2019

Trading giant Bunge obtained extremely advantageous terms on a kamsarmax ­deal. Kamsarmax order was placed by China’s ICBC Financial Leasing. Rival Chinese leasing houses are concerned that the Bunge deal could set a trend that gives lessors less ­exposure to a market recovery. In the event of a market recovery, trading giant Bunge will be able to pocket the profit. On the other hand, ICBC Financial Leasing holds the risk of an extended depression in Baltic ­Exchange rates. Shandong Shipping Corporation (SDSC) and ICBC Financial Leasing were co-operating on order for 4 kamsarmax bulk carriers backed by 7 year charter to Bunge. ICBC Financial Leasing’s order for 4 kamsarmax bulk carriers 81K DWT for $27 million each at Cosco Shipping Heavy ­Industry. Chinese leasing companies have become bold on ­ordering bulk carriers for their own account and chartering out. ICBC Financial Leasing rivals, including Bank of Communications Financial Leasing (Bocomm Leasing) and China Development Bank Financial Leasing (CDB FL), have unchartered ultra­max and kamsarmax bulkers on order.

26-December-2018

Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), subsidiary of Shandong Marine Group Ltd., is plotting to order two (2) newcastlemax dry bulk carriers at state-owned Chinese Shipyard Qingdao Beihai Shipbuilding Industry for delivery in 2020 and 2021.

Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC) new-building orders are backed by Brazilian mining giant Vale charters. Shandong Shipping Corporation (SDSC) and Chinese Shipyard Qingdao Beihai Shipbuilding Industry will sign the contract at the beginning of 2019. Each newcastlemax dry bulk carrier will cost around $55 million and scrubber-ready built to the International Maritime Organization’s newer Tier III standards.