CSIC Inks USD 2.08 Bn Worth of New Deals

CSIC signing ceremonyImage Courtesy: CSIC

China Shipbuilding Industry Corporation (CSIC) has held a grand signing ceremony for CNY 14.3 billion (USD 2.08 billion) worth of new contracts in Beijing.

The shipbuilding major agreed new vessel orders, conversion projects, charter and financing deals on June 27, according to Eworldship.

Under the new agreements, signed by the company’s leasing unit CSIC Leasing, a total of 24 newbuildings were ordered, including very large crude carriers (VLCCs), shuttle, product and chemical tankers, as well as Newcastlemax bulkers.

Additionally, the company signed conversion contracts for twelve vessels at three compatriot shipyards, namely, Dalian Shipbuilding, Wuchang Shipbuilding and Tianjin Xingang Shipbuilding.

CSIC also secured financing deals with the Bank of China (Hong Kong) Limited and Nanyang Commercial Bank, related to two VLCCs and four 64,000 dwt woodchip carriers, and a joint investment contract with Wah Kwong Shipping for a VLCC duo.

CSIC said that its leasing arm already secured chartering contracts for 13 of the new vessels with Shandong Shipping, RWE Group, Oldendorff, Koch and WEM Lines.

World Maritime News Staff

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