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
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
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