Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), subsidiary of Shandong Marine Group Ltd., acquired new-building kamsarmax bulk carriers 82K DWT MV Una Manx and MV Ursula Manx for around $30 million per ship from MX Bulk Management Ltd. MV Una Manx and MV Ursula Manx are under construction at Tsuneishi Group Zhoushan Shipbuilding. Price tags of bulk carriers have been rising. In 2019, MX Bulk Management Ltd entered the kamsarmax segment ordered three (3) sisterships (MV Una Manx, MV Ursula Manx, Mv Vorana Manx) at Tsuneishi Group Zhoushan Shipbuilding. Currently, MX Bulk Management Ltd owns eight (8) bulk carriers and manages three (3) bulk carriers for third parties. In 2020, MX Bulk Management Ltd sold 2019 built ultramax bulk carrier 63K DWT MV Isabella Manx to Adnoc Logistics & Services. 3-February-2021
Bank of Communications Financial Leasing (Bocomm Leasing) ordered eight (8) VLOC (Very Large Ore Carrier) new-buildings at state-owned Qingdao Beihai Shipbuilding Heavy Industry. Furthermore, Bank of Communications Financial Leasing (Bocomm Leasing) ordered one (1) ultra-large containership at privately owned Yangzijiang Shipbuilding.
Bank of Communications Financial Leasing (Bocomm Leasing) has bareboat chartered out the four (4) VLOC (Very Large Ore Carrier) new-buildings to Kukje Maritime Investment Corp (Kmarin) on a long-term deal. South Korean shipowning and ship-management company Kukje Maritime Investment Corp (Kmarin) has chartered out the VLOC (Very Large Ore Carrier) new-buildings to service long-term COA (Contracts of Affreightment) for mining giant Vale. Additionally, Bank of Communications Financial Leasing (Bocomm Leasing) chartered out VLOC (Very Large Ore Carrier) new-buildings MV Shandong Da Cheng, MV Shandong Da Ren, MV Shandong Da Zhi, and MV Shandong Da De to Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC). 7-April-2020
The esteemed Chinese state-operated maritime entity, Shandong Shipping Corporation (SDSC), has finalized the acquisition of tankers and bulker constructions valued at a noteworthy $404 million. The combined charter contracts with eminent global firms Shell and Bunge are projected to be an impressive $600 million. Demonstrating a strategic vision, the Shandong Shipping Corporation (SDSC) has commissioned eight 50,000 DWT IMO II MR tankers and an additional four 82,000 DWT kamsarmax bulk transporters from two distinguished shipyards situated in China. The renowned New Times Shipbuilding, a privately-held entity, is entrusted with the construction of the MR tankers, whilst the eminent state-affiliated Cosco Shipping Heavy Industry will manifest the kamsarmax bulk carriers. Furthermore, Shandong Shipping Corporation (SDSC) has astutely aligned these new acquisitions with medium-term charters brokered with Shell and the prominent US grain merchant, Bunge. Shell has secured the MRs for an eight-year tenure in an arrangement valued at approximately $380 million. The contemporary 50,000 DWT MR tanker constructions are priced at an estimated $37 million apiece, with an anticipated delivery timeline set for 2021. Meanwhile, Bunge has committed to the kamsarmax bulk carriers for a decade, in a pact estimated at $220 million, complemented by profit-sharing at a baseline rate. Reports suggest that the Shandong Shipping Corporation (SDSC) is disbursing approximately $27 million per bulk transporter, with delivery expected by the end of 2020. In a strategic financial move, the Chinese financial institution ICBC Leasing has been engaged to facilitate the funding for these new constructions. 17-September-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. 28-April-2019
The renowned state-backed shipowner, Shandong Shipping Corporation (SDSC), is poised to withdraw from the Chinese OTC market in preparation for a more expansive overseas Initial Public Offering (IPO). This $2 billion maritime conglomerate, under the aegis of local governance, has advanced further toward a comprehensive market listing. In a strategic bid, Shandong Shipping Corporation (SDSC) intends to rescind its shares from China’s auxiliary market, laying the groundwork for an impending overseas IPO. The corporation has articulated that this move, in line with its “strategic evolution,” aims to streamline its operations within capital markets. Accordingly, its governing board advocates for a withdrawal from the National Equities Exchange and Quotations (NEEQ). Should the shareholders resonate with this proposition, Shandong Shipping Corporation (SDSC) aspires to finalize the delisting come early May. Furthermore, the company commits to repurchasing its shares from dissenting shareholders, either at the acquisition cost or the net value per share derived from its latest audited statement. Founded in 2010 by regional administrators and stationed in Qingdao, Shandong Shipping Corporation (SDSC) has consistently harbored aspirations to inaugurate an IPO, either domestically or internationally. Historically, in January 2016, the enterprise chose to list its shares on the NEEQ OTC market; however, this decision was revisited when IPO endeavors stumbled amidst volatile trading in China’s primary stock exchanges. Once predominantly a force in the dry bulk arena, Shandong Shipping Corporation (SDSC) catapulted to prominence following a staggering $500 million valemax transaction in 2013. In subsequent times, it broadened its horizons into the realms of LPG and oil transportation. Presently, Shandong Shipping Corporation (SDSC) stands on the brink of sealing an enduring charter with Shell, envisioning the construction and proprietorship of up to 16 MR tankers—a move anticipated to boost its IPO momentum. In its current fleet, Shandong Shipping Corporation (SDSC) boasts 34 vessels, cumulatively weighing 2.87 million dwt, with an additional 14 vessels, summing up to 2.27 million dwt, in the pipeline. These encompass 29 bulk carriers and 14 LPG vessels. 20-March-2019
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. 26-December-2018