Zrich Shipping

3-January-2020

Beijing based leasing giant Minsheng Financial Leasing is behind a string of $100 million secondhand supramax and kamsarmax bulk carrier acquisitions with Ningbo ZRich Shipping. Minsheng Financial Leasing has been buying bulk carriers with Chinese ship operators on medium-term time charters and bareboat charters. Instead of pure ship financing, Minsheng Financial Leasing moved towards traditional ship-owning, ship operating, and asset play. Minsheng Financial Leasing cooperates with a handful of Chinese dry bulk operators and shipowners for trading its new ships. Minsheng Financial Leasing’s own in-house chartering employees are handling the fixture of ships that are less challenging to trade on the international shipping market. On the other hand, Minsheng Financial Leasing is outsourcing the chartering of vintage, less-efficient ships. Beijing based leasing giant Minsheng Financial Leasing owns about 20 bulk carriers that the company operates in-house.

Minsheng Financial Leasing’s recent partner is Ningbo ZRich Shipping which trade company’s secondhand ships. Minsheng Financial Leasing has placed nine (9) supramax bulk carriers and one (1) handysize bulk carrier with Ningbo ZRich Shipping in 2019. Minsheng Financial Leasing has spent about $100 million in 2019 on the ships and then Minsheng Financial Leasing chartered out to Ningbo ZRich Shipping. Guo Ningbo led Ningbo ZRich Shipping (also known as Ningbo Zerui) was established in 2016. Previously, Guo Ningbo was the CEO of Winning International Shipping, Singapore. Before Minsheng Financial Leasing’s investments, Ningbo ZRich Shipping was listed with a small under the Chinese flag. Ningbo ZRich Shipping (also known as Ningbo Zerui) has featured in the controversial Taiwan Strait sea-sand trade. Minsheng Financial Leasing’s internationally-traded ten (10) ships have been registered under flags of convenience. On some ship registers Minsheng Financial Leasing use subsidiary Ocean Leopard Shipping Co Ltd.

In March 2019, Minsheng Financial Leasing subsidiary Ocean Leopard Shipping Co Ltd acquired 2012 built handysize bulk carrier 37K DWT MV Nile Confidante (ex MV Long Bright ) for about $7.9 million.

In May 2019, Minsheng Financial Leasing subsidiary Ocean Leopard Shipping Co Ltd acquired 2011 built supramax bulk carrier 57K DWT MV Haut Brion (ex MV Conti Larimar) for about $9 million.

In June 2019, Minsheng Financial Leasing subsidiary Ocean Leopard Shipping Co Ltd acquired 2009 built supramax bulk carrier 56K DWT MV Cheval Blanc (ex MV Hermann-S) for about $9 million.

In July 2019, Minsheng Financial Leasing acquired 2011 built supramax bulk carrier 57K DWT MV Petrus (ex MV Sinar Kapuas) for about $11 million.

In July 2019, Minsheng Financial Leasing acquired 2012 built supramax bulk carrier 56K DWT MV Ausone (ex MV Tomini Sincerity) for about $10.8 million from Tomini Shipping.

In September 2019, Minsheng Financial Leasing acquired 2011 built supramax bulk carrier 56K DWT MV Lascombes (ex MV Universal Baltimore) for about $10.2 million from Universal Marine.

In October 2019, Minsheng Financial Leasing acquired 2011 built supramax bulk carrier 56K DWT MV Gruaud Larose (ex MV Universal Barcelona) for about $10.2 million from Universal Marine.

In October 2019, Minsheng Financial Leasing acquired 2009 built supramax bulk carrier 53K DWT MV Giscours (ex MV Aurelia K) and 2008 built supramax bulk carrier 53K DWT MV Kirwan (ex MV Marie S) from Naves Invest GmbH

Beijing based leasing giant Minsheng Financial Leasing is aiming to acquire more ships in 2020, following the intense sale-and-purchase activity of autumn 2019