China Development Bank Financial Leasing (CDB Leasing) has announced the purchase of 16 bulk carriers Tianjin-based Zhongxin Shipping ordered at two shipyards in China.
The vessels are being constructed by Penglai Zhongbai Jinglu Ship Industry and Huanghai Shipbuilding. Eight bulkers will deliver this month, while the remaining eight are expected for delivery in December this year.
The transaction, worth approximately $108m, involves 16 CDB Leasing’s Tianjin-incorporated special purpose companies, which are principally engaged in the vessel leasing business. After delivery, the ships will be chartered to Zhongxin Shipping via an operating lease agreement.
The Hong Kong-listed CDB Leasing has been adding product tankers and bulkers at a rapid pace this year, including ten MR units under construction at New Times for $383.8m and most recently, nine ultramax newbuilds, ordered at New Dayang Shipbuilding in a deal worth up to $261m.