CDB ordered six Newcastlemax bulk carriers

China Development Bank Leasing has ordered a total of 6 210,000 DWT Newcastlemax bulk carriers at two domestic shipyards, which will be chartered to German energy giant Rheinland Group (RWE).
 
This order from CDB Leasing was received by Shanghai Waigaoqiao Shipbuilding and COSCO Shipping Heavy Industry (Yangzhou). The two shipyards will build three ships each, and the delivery time is set to 2022. The new ship will be equipped with scrubbers, each costing slightly more than $ 53 million.
 
This batch of Newcastlemax bulk carriers is not a speculative order, and the end-user will be German Rheinland Group. Rheinland Group has chartered the new ships for eight years, with rents tied to the index.
 
The deal also involves Shandong Shipping, CDB Leasing charters the bulk carriers to Shandong Shipping in the form of bareboat chartering contract, and then Shandong Shipping charters to Rheinland Group.
 
In 2018, Shandong Shipping once placed an order with Waigaoqiao Shipbuilding for 5 + 5 180,000 DWT capesize bulk carriers, which are scheduled to be delivered in 2020 and 2021. They are also chartered to Rheinland Group in the form of time charter for 10 years. The order was financed by BoComm Leasing and Shandong Huachen Financial Leasing.
 
Source:Sarah Yu, XINDE MARINE NEWS

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