Greater China

CSSC Leasing signs first resale of bulkers ordered on spec

Shanghai: CSSC Leasing has successfully resold the first of 12 bulkers it ordered speculatively in 2013, exemplifying a new business model for China-built vessels funded with independent investment.

The Hong Kong-based CSSC subsidiary sold a 64,000-dwt bulker resale to a unnamed third-party buyer from the CSSC Chengxi Shipyard. The resale of the bulker was contracted in the first half of 2014, but has just been made public.

CSSC Leasing ordered 12 such 64,000-dwt ‘eco’-type bulk carriers from CSSC Chengxi in 2013.

The company has worked to combine financing for both industry and investment since its establishment in 2012, supporting both domestic yards and international leasing clients.

In May 2013, CSSC Leasing inked a contract with CSSC Chengxi Shipyard to construct two 38,000-dwt bulk carriers, which will be leased to Ukrainian owner Aquavita International.

CSSC Leasing has helped CSSC shipyards win over 6m dwt in newbuildings since 2013. [21/01/15]

 

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