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Shandong Shipping Orders 12 Tankers, Bulkers in China

Shandong Shipping Orders 12 Tankers, Bulkers in China
China’s state owned Shandong Shipping Corporation has placed orders for up to 12 new vessels at two compatriot shipbuilders.

According to local media reports, the company ordered eight 50,000 dwt MR tankers and four 82,000 dwt Kamsarmax bulkers, valued at around USD 400 million.

The orders for the MR tankers were placed as part of charter agreements signed with Royal Dutch Shell, while the four bulkers were ordered for a joint lease agreement with ICBC Financial Leasing, under which the units would be chartered by Bunge Group.

It is understood that the vessels would be constructed by New Times Shipbuilding and COSCO Shipping Heavy Industry, respectively.

Additionally, Shandong Shipping signed a technical service framework agreement with DNV-GL and China Classification Society CCS.

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