CDB Leasing, the financial leasing arm of China Development Bank, has entered into a letter of intent (LOI) with New Dayang Shipbuilding for the construction of eight 63,000 dwt ultramax bulk carriers during Marintec China in Shanghai this week.
The LOI will add to CDB’s existing order of 12 ultramax newbuildings at New Dayang.
Dayang Shipbuilding, a former subsidiary yard of bankrupt Sinopacific Shipbuilding, completed a restructuring with SUMEC Group and rebranded as New Dayang Shipbuilding last November.
CDB Leasing has been expanding its fleet quickly this past year. The company also recently ordered two post-panamax bulkers at CSSC Chengxi Shipyard.
The company currently owns a fleet of 63 vessels made up of 56 bulkers, three containerships, one tanker, two LNG carriers and one VLGC. It also has an orderbook of 23 bulkers.