CSSC to build and finance 36 newbuilds

China State Shipbuilding Corporation (CSSC), has inked newbuilding contracts for 36 newbuildngs worth a total contracts value of over RMB10bn ($1.48bn) and financed by its Hong Kong leasing arm.

The vessels will be built at a number of different yards under the CSSC umbrella and CSSC (Hong Kong) Shipping Company, will provide financing service to all 36 newbuildings.

The batch of newbuilding contracts includes four 174,000 cu m LNG carriers, eight 13,000 multi-purpose heave lift vessels, four 300,000 very large crude carriers (VLCC) and twenty feeder containerships, plus letter of intent for four 95,000 dwt bulk carriers and seagoing fishing vessels.

At the top end of the scale Mitsui OSK Lines (MOL) has ordered two plus two 174,000 cu m LNG carriers at Hudong Zhonghua Shipbuilding.

Zeamarine will build four 13,000 tonne-class heavy lift vessels at Hudong Zhonghua Shipbuilding and two 13,000 tonne-class heavy lift vessels at HuangPu Wenchong Shipbuilding.

On the container feedership front Atlantic Geneva has ordered four 2,400 teu containerships at Jiangnan Shipyard, and eight 1,100 teu containerships at Huangpu Wenchong Shipbuilding and Chengxi Shipyard.

newsletter

In terms of bulkers Pangaea is to build two plus two 95,000 tonne-class bulk carriers at Guangzhou Shipyard International.

Meanwhile CSSC (Hong Kong) Shipping Company itself booked two plus two 300,000 tonne-class VLCCs at Shanghai Waigaoqiao Shipbuilding.

As a part of cooperation plans, CSSC (Hong Kong) Shipping Company also signed joint venture letter of intent with three Qingdao-based companies and a system engineering research institute owned by CSSC for the development of intelligent ocean economy and construction of seagoing fishing vessels.

The RMB10bn deal is a good start for CSSC and Chinese shipbuilding industry in the year of 2019 and the largest batch of newbuilding orders placed in recent global shipbuilding market.

Posted 29 January 2019

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Katherine Si

China Correspondent

London big debate banner