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China Shipping Development leases two new bulkers

Article-China Shipping Development leases two new bulkers

China Shipping Development leases two new bulkers
China Shipping Development Co (CSDC) has entered into a deal to bareboat charter in two newly-built dry bulk carriers from a sister firm Dalian Shipping.

CSDC's CS Bulk will charter in a pair of newly launched 34,650 dwt bulkers, Qing Feng Ling and Shi Long Ling, for three years starting from 1 December 2013 to 30 November 2016.

CS Bulk will pay an annual aggregate bareboat charter rates of RMB12.15m ($2.05m) for each vessel per year.

“The group aims to maintain the steady increase in its operating results in relation to its oil and bulk cargo transportation business,” Shanghai and Hong Kong-listed CSDC said.

“The leasing of the bulk vessels is expected to enable the group to enhance its domestic and international shipping capacity of bulk vessels and its share in the domestic and international bulk shipping market,” it added.

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