ICBC Leasing seals order for six VLOCs at Beihai Shipbuilding

ICBC Leasing seals order for six VLOCs at Beihai Shipbuilding

China’s ICBC Leasing has officially signed the shipbuilding contracts with CSIC-affiliated Beihai Shipbuilding Industry yesterday for the construction for six 325,000 dwt VLOCs plus options to construct three more.

The order is under a contract of affreightment ICBC Leasing signed with Brazilian miner Vale, following ICBC Leasing’s order of 10 VLOCs in 2016 under a similar deal with Vale.

The price for each vessel is $75m and the vessels are expected to be delivered between the end of 2019 and 2021.

Vale started a new round of shipping capacity expansion this year via COA deals with South Korean and Chinese shipowners including Pan Ocean, Korea Line, SK Shipping, ICBC Leasing and China Merchants.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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