Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

CSIC

CSIC inks $2.08bn in new contracts

Chinese shipbuilding giant, China Shipbuilding Industry Corporation (CSIC), signed several marine project contracts, totalling in RMB14.3bn ($2.08bn), consisting of newbuilding orders, ship leasing contracts, ship finance agreements and equipment orders.

CSIC Leasing signed contracts for a total of 24 newbuildings with China Shipbuilding & Offshore International (CSOC), Dalian Shipbuilding Industry, Wuchang Shipbuilding Industry, and Tianjin Xingang Shipbuilding Heavy Industry.

The newbuilding orders include VLCCs, shuttle tankers, product oil tankers, chemical tankers and newcastlemax bulkers, as well as conversion contracts for 12 vessel.

CSIC Leasing also inked chartering contracts for thirteen of the newbuildings with Shandong Shipping, RWE Group, Oldendorff, Koch and WEM Lines.

It also signed ship financing agreements for two VLCCs and four woodchip carriers with the Bank of China and Nanyang Commercial Bank, and a joint investment agreement with Wah Kwong Shipping for another two VLCCs.

In addition, Wuchang Shipbuilding Industry inked the letter of intent with Zhejiang Binhai Xianshan Marine Products Development Company for a deepwater farming project development. CSIC Shanxi Diesel Engine Heavy Industry signed a diesel generating set supply contract with China Nuclear Power Engineering.

Hu Wenming, chairman of CSIC said that, this RMB14.3bn order in new orders was a warm current for the depressed shipbuilding market and the deals mean a lot to the shipbuilding industry.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish