WinGD has won the first worldwide commercial orders for ethanol-fuelled engines created for deep-sea ships, marking a notable advance in shipping’s gradual movement toward alternative propulsion fuels. The order is significant because it is attached to very large ore carriers operating in one of the most demanding dry bulk trades, where engine dependability, fuel economics, cargo intake, voyage efficiency, and emissions performance all carry major commercial importance. Swiss marine engine designer WinGD stated that its ethanol-ready X-DF-M/E engines will be installed on two 325,000 DWT Guaibamax ore carriers ordered for Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly owned subsidiary of Shandong Marine Group Ltd. and a major name in China’s maritime transport industry. The ships will be constructed in China and employed on long-term service for Brazilian mining group Vale, connecting the newbuilding programme directly with the long-distance movement of iron ore from Brazil to key steelmaking markets. Shandong Shipping Corporation (SDSC) is a central participant in this project because Shandong Shipping Corporation (SDSC) is not merely adding two conventional ore carriers to its fleet. Shandong Shipping Corporation (SDSC) is supporting an early commercial application of ethanol propulsion for ocean-going ships, a step that may help shape future decisions on ore carrier design, chartering, fleet investment, and fuel strategy. As a state-backed shipowner and operator under Shandong Marine Group Ltd., Shandong Shipping Corporation (SDSC) forms part of a wider maritime platform connected with ocean transportation, bulk commodity logistics, marine investment, port-related services, and international cargo movement. Shandong Shipping Corporation (SDSC) has built a strong presence in large-scale dry bulk transportation, including iron ore, coal, grain, and other industrial bulk cargoes, placing Shandong Shipping Corporation (SDSC) in a strong position to serve long-haul commodity supply chains. The ethanol-fuelled Guaibamax order also reinforces Shandong Shipping Corporation (SDSC)’s standing in the very large ore carrier sector. This segment requires shipowners to satisfy the technical and commercial standards of leading charterers, especially charterers seeking lower carbon intensity, wider fuel choice, and dependable performance over long periods. By participating in this project, Shandong Shipping Corporation (SDSC) is aligning Shandong Shipping Corporation (SDSC)’s fleet development with the changing expectations of mining groups, steel supply chains, and global commodity traders. The two Guaibamax ore carriers will be built at Beihai Shipbuilding and will each be powered by six-cylinder 6X82DF-M/E engines designed to operate principally on ethanol. With each ship offering about 325,000 DWT of carrying capacity, the newbuildings are intended to move very large iron ore parcels while delivering improved fuel flexibility and environmental performance. For Shandong Shipping Corporation (SDSC), the investment reflects a forward-looking approach to dry bulk shipping at a time when cargo owners are placing greater pressure on shipowners to reduce emissions across the entire logistics chain. The order is the first commercial deployment of WinGD’s ethanol-oriented X-DF-M/E engine platform. WinGD developed the ethanol version from WinGD’s methanol engine technology, which has already entered operational use. Ethanol and methanol are both alcohol-based fuels and have broadly similar combustion behaviour, but ethanol has its own fuel-handling profile and different energy characteristics. Because ethanol has lower energy density than methanol, WinGD revised the fuel supply and injection arrangements to match the fuel’s requirements. These modifications are especially important for large ocean-going ships, where propulsion equipment must remain safe, reliable, efficient, and stable during long international voyages. WinGD CEO Volkmar Galke said the first ethanol-fuelled X-DF-M/E engines are the outcome of more than a decade of research and development involving alcohol-based marine fuels, including ethanol and methanol. Volkmar Galke added that securing orders connected with a high-profile charterer and a recognized ship operator offers strong validation for WinGD’s technical work and commercial direction. The engines are expected to be delivered in early 2029, with further options available if the Guaibamax newbuilding series is enlarged. The project also fits into Vale’s wider effort to lower emissions linked with Vale’s iron ore logistics network. Vale has been studying several options to reduce the carbon footprint of Vale’s maritime transportation, and ethanol is especially attractive because Brazil is one of the world’s largest bioethanol producers. For Vale, ethanol creates a possible bridge between Brazil’s renewable fuel industry and the overseas shipment of Brazilian iron ore. Depending on feedstock, production method, distribution, and lifecycle measurement, ethanol could offer a substantial greenhouse gas reduction compared with conventional heavy fuel oil. Rodrigo Bermelho, Vale’s director of shipping, said ethanol supports Vale’s plan to combine flexibility and efficiency in the ships used to transport Vale’s ore. The project allows Vale to examine how an alternative fuel can be applied in large-scale ocean shipping without compromising the cargo capacity and voyage performance required in the Brazil-China iron ore trade. The cooperation between Vale and Shandong Shipping Corporation (SDSC) carries clear strategic value. Vale is one of the world’s leading iron ore producers, while Shandong Shipping Corporation (SDSC) is a Chinese state-owned shipowner and operator with experience in dry bulk shipping. China is one of the most important destinations for seaborne iron ore, while Brazil is one of the most important sources of long-haul iron ore exports. Ships serving this trade must combine large parcel size, high operating reliability, fuel efficiency, and compliance with tightening environmental expectations. Through this ethanol-fuelled Guaibamax programme, Shandong Shipping Corporation (SDSC) is strengthening its ability to meet the future needs of major industrial charterers. At the same time, the project demonstrates how Chinese shipowners are becoming more visible in shipping’s alternative-fuel transition. Shandong Shipping Corporation (SDSC) is supporting a propulsion solution that offers practical fuel flexibility rather than waiting for the industry to settle on one dominant future fuel. This approach matters because shipping still faces uncertainty over global bunkering infrastructure, fuel pricing, safety regulation, lifecycle emissions rules, and the long-term availability of low-carbon fuels. Ethanol, methanol, ammonia, liquefied natural gas, and other options are all being evaluated across different ship types and trading patterns. For Shandong Shipping Corporation (SDSC), participation in a flexible-fuel newbuilding project may become a competitive advantage as charterers increasingly prefer ships capable of supporting their decarbonisation targets. The order also broadens WinGD’s alternative-fuel engine range. WinGD already has ammonia-fuelled X-DF-A engines and high-pressure LNG-fuelled X-DF-HP technology, while the ethanol-capable X-DF-M/E engine adds another option for owners, operators, and charterers considering lower-emission propulsion. Engine designers, shipowners, cargo interests, and financial institutions continue to assess several fuel routes because the final direction of shipping’s energy transition remains unsettled. Against that background, the ethanol-powered Guaibamax project is more than a technical milestone. It is also a commercial statement that alternative fuels are beginning to enter the largest segments of dry bulk shipping. For Shandong Shipping Corporation (SDSC), the newbuilding order highlights Shandong Shipping Corporation (SDSC)’s role as a modern Chinese dry bulk shipowner and operator prepared to participate in advanced fuel and propulsion projects. For Vale, the ships support a broader plan to reduce emissions from iron ore transportation while preserving the scale needed for competitive long-distance trade. For WinGD, the order confirms that ethanol can be developed into a practical engine solution for ocean-going ships. If the ships perform successfully after delivery, the project may become an important reference for future Guaibamax, very large ore carrier, and other large dry bulk ship designs seeking greater fuel flexibility and lower emissions. 19-May-2026
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd. and recognized as one of China’s major integrated maritime groups, is examining a potential order for as many as 10 triple-fuel VLOC (Very Large Ore Carrier) newbuildings, a step that would mark another significant advance in the expansion of its large-capacity dry bulk fleet. Shandong Shipping Corporation (SDSC) has reached an MoU (Memorandum of Understanding) with its long-favoured shipbuilder Qingdao Beihai Shipbuilding Heavy Industry for the construction of the Guaibamax bulk carrier newbuildings, indicating that Shandong Shipping Corporation (SDSC) is moving ahead with plans to strengthen its presence in the long-haul iron ore trades. Shandong Marine Group Ltd., the parent of Shandong Shipping Corporation (SDSC), is once again turning to Qingdao Beihai Shipbuilding Heavy Industry, underscoring the depth of the relationship between the state-backed shipping group and the yard. Chinese shipowner and operator Shandong Shipping Corporation (SDSC) is now poised to broaden its enlarging fleet through the addition of triple-fuel large ore carriers, reflecting a strategy that combines fleet growth, fuel optionality, and stronger positioning in the global bulk commodities market. As a state-owned enterprise, Shandong Shipping Corporation (SDSC) is assigning the programme to one of its preferred shipyards, Qingdao Beihai Shipbuilding Heavy Industry, for the construction of a series of 325K DWT Guaibamax bulk carrier newbuildings, vessels intended to support highly efficient transportation of iron ore on key international routes. The prospective project also brings Shandong Shipping Corporation (SDSC) itself more sharply into focus, as the group has established an increasingly influential role within China’s shipping sector through sustained fleet development, close alignment with national maritime and resource logistics priorities, and an operating model built around large-scale commercial shipping activity. Shandong Shipping Corporation (SDSC) has developed into an important force in dry bulk transportation, with its fleet strategy reflecting both commercial ambition and the broader industrial objectives of Shandong Marine Group Ltd. The possible move into a new series of triple-fuel VLOC (Very Large Ore Carrier) newbuildings suggests that Shandong Shipping Corporation (SDSC) is looking beyond simple capacity growth and is also seeking to equip its future fleet with greater technical flexibility as environmental regulation tightens and fuel choices become more important in global shipping. By returning once more to Qingdao Beihai Shipbuilding Heavy Industry, Shandong Shipping Corporation (SDSC) appears to be continuing a deliberate and structured newbuilding policy aimed at reinforcing its standing in the ore carrier sector, while the proposed vessels would further elevate the scale, capability, and strategic value of the Shandong Shipping Corporation (SDSC) fleet. 3-April-2026
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd. and among China’s largest integrated maritime enterprises, is set to book four LNG carrier newbuildings at Jiangnan Shipyard, which operates under China State Shipbuilding Corporation (CSSC). Shandong Shipping Corporation (SDSC) is pressing ahead with LNG carrier fleet growth, awarding a contract for four newbuildings to Jiangnan Shipyard, with the ships intended to enter charter with a unit of UK-based energy major Shell upon handover. Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC) has lined up 175,000 cu m LNG carrier newbuildings for delivery across 2028 and 2029. Shell (Singapore) Trading will serve as the long-term charterer, Minsheng Financial Leasing will stand as the shipowner, Shandong Marine Energy will provide commercial management, and Shell International Shipping will take responsibility for technical operations. The latest LNG carrier newbuilding commitment expands the LNG carrier footprint of Shandong Marine Group Ltd., which already has two LNG carrier newbuildings on order at Samsung Heavy Industries (SHI) in South Korea, scheduled for delivery in 2026 and 2027. Shandong Marine Group Ltd. is also associated with three Q-Max LNG carrier newbuildings under a separate arrangement with QatarEnergy.Jiangnan Shipyard, part of China State Shipbuilding Corporation (CSSC), continues to strengthen its position in large LNG carrier construction as Chinese shipyards steadily narrow the gap with South Korean rivals. Operating from Shanghai’s Changxing Island, Jiangnan Shipyard has attracted a regular flow of LNG-related orders over the past year. Shandong Marine Group Ltd.’s decision arrives amid a renewed upswing in LNG carrier contracting from late 2025 into the opening weeks of the new year, as owners and investors position for long-term gas demand and future employment cover. In January 2026, Eastern Pacific Shipping secured its first LNG carrier newbuilding order in China, contracting two 175,000 cu m LNG carrier newbuildings at Jiangnan Shipyard for delivery in 2028. Greek shipowner and operator TMS Cardiff Gas has also increased its LNG orderbook, agreeing up to six newbuildings at Hudong-Zhonghua Shipbuilding. South Korean yards remain a focal point for LNG carrier investment. Seapeak has placed orders for two LNG carriers at Samsung Heavy Industries (SHI), while Purus returned to Samsung Heavy Industries (SHI) with two LNG carrier newbuildings priced at roughly $503m. Alpha Gas has also reappeared in the newbuilding market, ordering two LNG carriers at Hanwha Ocean. Most recently, Samsung Heavy Industries (SHI) disclosed a $507 million contract covering two LNG carriers for a Bermuda-based shipowner, with S&P (Sale and Purchase) shipbrokers attributing the deal to JP Morgan-backed Global Meridian Holdings. The LNG carrier newbuildings are expected to deliver in early 2029. Collectively, these transactions point to continued strength in LNG carrier ordering, with Chinese and South Korean shipyards vying for a rising share of long-term gas shipping demand. 2-February-2026
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd. and one of China’s largest integrated maritime enterprises, is strengthening its position in the global dry bulk sector with a significant investment in the capesize bulk carrier segment. Shandong Shipping Corporation (SDSC) has placed an order for two 181,000 DWT capesize bulk carrier newbuildings at Hengli Shipbuilding, continuing its expansion strategy that aligns with China’s broader goals of consolidating and modernizing state-owned maritime assets. The order forms part of a larger fleet enhancement initiative driven through its affiliated entity, Shandong Ocean Group Co., Ltd. (SDOC), reflecting a coordinated effort within the provincial maritime ecosystem of Shandong Province. Shandong Ocean Group Co., Ltd. (SDOC), a maritime logistics and shipping arm of Shandong Port Group, operates as a key subsidiary under the management of Shandong Shipping Corporation (SDSC). Shandong Ocean Group Co., Ltd. (SDOC) has rapidly grown into one of China’s most influential regional maritime conglomerates, managing diversified operations including dry bulk carrier transportation, port logistics, ship management, and international commodity trading. Headquartered in Qingdao, Shandong Ocean Group Co., Ltd. (SDOC) has established itself as an essential link in Shandong’s integrated port–shipping–logistics chain, coordinating closely with Shandong Port Group’s terminals at Qingdao, Rizhao, and Yantai to enhance efficiency across the entire supply chain. The recent decision by Shandong Ocean Group Co., Ltd. (SDOC) to return to Hengli Shipbuilding for the construction of two 181,000 DWT capesize bulk carriers underscores its ambition to expand its dry bulk fleet and gain a stronger foothold in long-haul iron ore and coal trades between China, Australia, and Brazil. The order builds upon its earlier June 2025 contract for two 95,000 DWT post-panamax bulk carrier newbuildings, each valued at around $37 million, with options for additional units. The post-panamax bulk carriers are slated for delivery in 2028 for the confirmed orders and 2029 for the optional ones, while the detailed delivery schedule and financial terms for the capesize bulk carrier newbuildings have not yet been disclosed by Hengli Shipbuilding. Founded in 2010, Shandong Shipping Corporation (SDSC) was created as part of the Shandong provincial government’s initiative to consolidate its maritime assets under a unified management structure. Since its establishment, Shandong Shipping Corporation (SDSC) has evolved into a diversified state-owned enterprise with a fleet portfolio that includes capesize, panamax, and supramax bulk carriers, as well as chemical tankers, LPG carriers, and offshore engineering ships. Through its close collaboration with Shandong Ocean Group Co., Ltd. (SDOC) and other group subsidiaries, Shandong Shipping Corporation (SDSC) plays a vital role in supporting China’s global trade logistics network, ensuring energy and raw material supply stability. Shandong Shipping Corporation (SDSC) has also been actively pursuing green and digital transformation strategies, investing in energy-efficient ship designs, LNG-fueled newbuilds, and advanced ship management systems to reduce emissions and improve operational performance. Meanwhile, Shandong Ocean Group Co., Ltd. (SDOC) continues to expand its presence in international maritime markets by developing strategic alliances with global charterers and logistics partners. The company’s business model integrates port resources, shipping capacity, and financial services, enabling it to provide one-stop logistics solutions that cover ocean transport, port handling, warehousing, and distribution. Both Shandong Ocean Group Co., Ltd. (SDOC) and Shandong Shipping Corporation (SDSC) represent the cornerstone of Shandong Province’s maritime industrial cluster, which has become a leading force within China’s “blue economy” framework. Their growing cooperation highlights a shared vision of building a world-class maritime powerhouse that leverages state-owned resources, international expertise, and sustainable growth practices. Through these latest newbuilding investments at Hengli Shipbuilding, Shandong Shipping Corporation (SDSC), and Shandong Ocean Group Co., Ltd. (SDOC) reaffirm their long-term commitment to strengthening China’s maritime competitiveness and ensuring continued growth across the global dry bulk shipping industry. 15-October-2025
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd. and one of the largest provincial-level shipping enterprises in China with business operations spanning bulk carrier transportation, tanker shipping, offshore engineering, and international logistics services, has completed the sale of five kamsarmax bulk carriers through online auction, with Qingdao-based shipowner and operator Shandong Shipping Corporation (SDSC), a key state-owned enterprise approved by the Shandong Provincial People’s Government and headquartered in Qingdao with a modern fleet engaged in both domestic and international trade, finalizing the sale of its last and fifth kamsarmax bulk carrier, the 2018-built 81K DWT MV Shandong Fu Yuan, on Guangzhou Shipping Exchange’s online auction platform for approximately $25.08m, achieving a 5.4% premium over its reserve price of $23.8m. 14-August-2025
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd. and one of the largest provincial-level shipping enterprises in China, has auctioned off another kamsarmax bulk carrier as part of its ongoing fleet optimization strategy, selling the 2017-built 81K DWT kamsarmax bulk carrier MV Shandong Fu Hui for approximately $24.58 million through a competitive bidding process on the Guangzhou Shipping Exchange (GSE) online auction platform, marking the third kamsarmax bulk carrier divested by Shandong Shipping Corporation (SDSC) via online auction, with two additional kamsarmax bulk carriers expected to be sold in July 2025; headquartered in Qingdao and playing a key role in the Shandong Provincial Government’s maritime development strategy, Shandong Shipping Corporation (SDSC) operates a diverse fleet that includes bulk carriers, tankers, and LNG carriers, and is involved in long-term strategic shipping partnerships with major domestic and international charterers, while actively aligning its asset portfolio with global market trends, decarbonization initiatives, and the broader goals of the Belt and Road Initiative. 7-August-2025
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd., has successfully concluded the sale of two kamsarmax bulk carriers at auction, capitalising on a surge of buyer interest in the secondhand market. The two ships were sold on Friday at prices well above their reserve levels, following strong competition among prospective buyers. Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC) achieved this result by strategically lowering the reserve prices to stimulate demand, ultimately leading to a favourable outcome. The 2018 built 81K DWT kamsarmax bulk carrier MV Shandong Fu Ren was sold for approximately \$25.6 million, while the 2017 built 81K DWT kamsarmax bulk carrier MV Shandong Fu Ze fetched around $24.9 million. Shandong Shipping Corporation (SDSC), headquartered in Qingdao, is one of China’s largest state-backed shipowning entities, primarily engaged in the operation and management of dry bulk, oil tanker, and liquefied gas ships. With a modern and diversified fleet, Shandong Shipping Corporation (SDSC) plays a key role in securing the maritime logistics chain for China’s state-owned enterprises and major commodity stakeholders, especially in energy, minerals, and agriculture. The shipowner and operator Shandong Shipping Corporation (SDSC) is known for actively participating in both domestic and international shipping markets and for its long-term charter relationships with major global cargo interests. The successful auction of the two kamsarmax bulk carriers underscores Shandong Shipping Corporation’s strategic approach to asset management and market timing as it continues to optimise its fleet structure and adapt to evolving market dynamics. 25-July-2025
The prolonged slump in the dry bulk market may pressure Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a wholly-owned subsidiary of Shandong Marine Group Ltd., to sell 2 of its 5 kamsarmax bulk carriers at prices below its initial expectations set during the online auctions held in May and June 2025. The disposal of these two kamsarmax bulk carriers underscores the persistent weakness in bulker asset values, with Shandong Shipping Corporation (SDSC)’s pair reportedly fetching prices below the reserve levels established in the previously failed auctions. Chinese shipowner and operator Shandong Shipping Corporation (SDSC) owned and operated 2017 built kamsarmax bulk carrier 81K DWT MV Shandong Fu Ze and 2018 built kamsarmax bulk carrier 81K DWT MV Shandong Fu Yuan, both of which are now being sold to undisclosed interests for $23.5m each. Shandong Shipping Corporation (SDSC), based in Qingdao, is a core maritime subsidiary of Shandong Marine Group Ltd., established to enhance the province’s maritime presence through specialized shipping services focused on bulk transportation, particularly in energy commodities such as coal and iron ore, alongside dry bulk carriers. The shipowner has expanded its operations across domestic and international markets with a diversified fleet that includes kamsarmax bulk carriers, capesize bulk carriers, and liquefied natural gas carriers, reflecting a broader strategic mandate to support China’s Belt and Road Initiative and national energy security logistics. The potential sale of these assets reflects Shandong Shipping Corporation (SDSC)’s efforts to manage its exposure to the softening market and optimize its fleet in line with evolving global trade conditions and asset value trends. 20-July-2025
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a subsidiary of Shandong Marine Group Ltd., has expanded its order book of 325K DWT VLOCs (Very Large Ore Carriers) at Qingdao Beihai Shipbuilding by contracting 10 additional 325K DWT Guaibamax bulk carriers, increasing its total number of newbuildings in this series to 16 bulk carriers, following previous orders that included a December 2023 contract for 4 VLOCs scheduled for delivery in Q2 2027 and an additional two units commissioned in September 2024, expected to be delivered in Q3 2028, with all the newly ordered VLOCs estimated to cost between $130 million and $135 million each and featuring methanol dual-fuel engines for the transportation of Brazilian iron ore to China, as Shandong Shipping Corporation (SDSC), headquartered in Qingdao and operating under Shandong Marine Group Ltd., has rapidly grown into one of China’s leading state-owned shipping enterprises with a focus on dry bulk, oil and gas transport, and a strategy geared toward green shipping initiatives, large-scale fleet development, and long-term charter cooperation with major global cargo owners. 23-June-2025
Chinese state-owned shipowner and operator Shandong Shipping Corporation (SDSC), a subsidiary of Shandong Marine Group Ltd., is expanding its guaibamax bulk carrier fleet by placing additional newbuilding orders. Currently, Shandong Shipping Corporation (SDSC) has confirmed orders for six methanol dual-fuel 325K DWT guaibamax ore carriers at Qingdao Beihai Shipbuilding. The Qingdao-based shipowner and operator recently increased its order at Qingdao Beihai Shipbuilding Heavy Industry to six bulk carriers, having signed agreements for two more methanol dual-fuel 325K DWT guaibamax ore carriers, previously unreported. The delivery of these vessels is scheduled with four guaibamax ore carriers arriving in Q4 2027 and two in Q2 2028. Shandong Shipping Corporation (SDSC) operates as a significant state-owned enterprise under the auspices of the Shandong Provincial People’s Government. It was established by its controlling shareholder, Shandong Marine Group Ltd., with a registered capital of 3 billion yuan. Shandong Shipping Corporation (SDSC) is a leading entity in the shipping industry, committed to core values of Tolerance, Responsibility, Self-motivation, and Perseverance. The company is dedicated to providing high-quality logistics solutions and meeting the needs of global trade. Renowned for its trustworthy service quality, Shandong Shipping Corporation (SDSC) is committed to continuous innovation and exemplary management. The company specializes in the marine transportation of various bulk cargoes, including mineral products, grain, energy resources, chemicals, and general cargo. Its operations cover the most significant global ports, and its bulk carrier fleet is one of the largest in China. Shandong Shipping Corporation (SDSC) is also noted for managing the world’s largest 400K DWT ore carrier and for pioneering the construction of a 250K DWT class-leading ore carrier. Additionally, Shandong Shipping Corporation (SDSC) boasts the largest LPG tanker fleet in China, which ranks among the top globally. Its proactive entry into the capital market is evidenced by its official listing on the National Equities Exchange and Quotations, enhancing its prospects for standardized management and robust growth. Looking to the future, Shandong Shipping Corporation (SDSC) plans to further elevate its service quality through advanced business models and technological innovations. It aims to provide more convenient, economical, and environmentally friendly logistics services for international trade activities. By developing a highly efficient logistics system and enhancing global connectivity, Shandong Shipping Corporation (SDSC) is poised to continue as a comprehensive international logistics service provider, delivering exceptional value to charterers, shareholders, and the broader society. This strategic approach underscores its ambition to maintain and extend its leadership in the maritime industry, fostering sustainable development and expanding its influence in international markets. 23-September-2024
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