China Development Bank Leasing orders eight bulk carriers

China Development Bank Leasing has entered into three newbuilding contracts at a total cost of $417.6m for the construction of eight bulk carriers with three Chinese shipyards.

Two 210,000 dwt bulk carriers will be built by Qingdao Beihai Shipbuilding Heavy Industry at a cost of $104.4m. One vessel is expected to be delivered in December 2021 and March 2022 respectively.

An order for six 210,000 dwt bulk carriers will be split equally between Yangzhou Cosco Shipping Heavy Industry and Shanghai Waigaoqiao Shipbuilding at a cost of $156.6m respectively. Each shipyard will deliver one vessel in February, March and April 2022.

China Development Bank Leasing intends to lease the vessels to an independent third party in the form of a long-term time charter after delivery.

“Vessel leasing business is an important measure for the company to enrich the variety of vessel businesses and enhance the competitiveness in the vessel business market,” said China Development Bank Leasing.

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