CDB Leasing, the financial leasing arm of China Development Bank, has entered into shipbuilding contracts with New Dayang Shipbuilding for the construction of eight 63,000 dwt ultramax bulk carriers.
The total value of the contracts are $188.92m and deliveries are scheduled in 2021. CDB Leasing intends to lease the vessels via long-term charters.
The contract signing follows the two parties entering into a letter of intent for the orders in December last year. The order adds to CDB’s existing order of 12 ultramax newbuildings at New Dayang.
CDB Leasing currently owns a fleet of 68 vessels and has another 28 vessels on order including the latest order.