On January 27, China Development Bank announced that two of its wholly-owned subsidiaries had signed shipbuilding contracts with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd and Nantong Rainbow Offshore & Engineering Equipment (ROC). Under the contracts, each subsidiary will purchase two offshore support vessels for a total price of no more than USD 60 million (approximately RMB 430 million), amounting to four vessels in total.

Notably, this transaction is not their first collaboration. As early as January 13, 2025, China Development Bank Leasing had signed previous shipbuilding contracts with the same two shipyards to purchase two similar offshore support vessels, also for no more than USD 60 million. This means that, including the earlier deal, China Development Bank Leasing has committed up to USD 240 million (approximately RMB 1.74 billion) to build a total of eight offshore support vessels.

According to the announcement, once delivered, the vessels will be leased out under operating lease arrangements to support the company’s business expansion in the ship leasing market. China Development Bank Leasing stated that signing these shipbuilding contracts aims to further strengthen its competitiveness in the ship leasing sector, aligning with its business development strategy. The Board of Directors believes that the transaction terms are fair and reasonable and in the best interests of the company and its shareholders.

by Xinde Marine News Pang Kai

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.