Greater China

Minsheng places orders for 30 ultramaxes at CIC Jiangsu

Shanghai: Minsheng Financial Leasing has signed with CIC Jiangsu Shipbuilding, the shipbuilding arm of China Shipping Group, for 30 ultramax bulkers. The order is the largest order ever for the shipyard with a total value of $800m.

The contract includes 12 firm orders for delivery in 2015 and 2016 and another 18 options which are to be exercised at five-month intervals.

Minsheng Financial Leasing currently has another 10 bulkers on order, includings two 67,000 dwt bulkers at Zhenghe Shipbuilding, five 47,500 dwt bulkers at Jiangsu Eastern Shipbuilding, and three 76,000 dwt bulkers at Rongsheng Heavy Industries. [10/03/14]

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