CDB Leasing, the leasing unit of policy bank China Development Bank, has officially signed shipbuilding contracts with New Dayang Shipbuilding for the construction of four 63,500 dwt ultramax bulk carriers.
The order is part of a letter of intent CDB Leasing signed with the yard last November for a total of 12 ultramax newbuildings.
Two ships are expected to be delivered in August and November next year and the other two will be delivered in 2021.
Currently CDB Leasing has another three 82,000 dwt kamsarmax bulkers on order at New Dayang Shipbuilding.
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 now owns a fleet of 40 vessels, comprising of 33 bulkers, three containerships, one tanker and three gas carriers.