Ningbo Marine charters in capesize bulker from parent company

Ningbo Marine charters in capesize bulker from parent company

Chinese dry bulk operator Ningbo Marine has announced that its Singapore subsidiary has chartered the 2011-built capesize bulker ZJE Ocean 1 from its controlling shareholder Zhejiang Energy under a long-term bareboat charter agreement.

The charter agreement is for a period of 60 months with floating rates between $3,844 and $11,044 per day. Total charter payment under the contract is around $20m.

Zhejiang Energy bought the 176,000 dwt vessel, formerly named Harriette N, from German owner Neu Seeschiffahrt in September for a price of $24m.

At the end of October, Ningbo Marine also announced a plan to acquire a bulk carrier with capacity between 30,000 dwt and 40,000 dwt, and the company will allocate up to RMB130m ($18.4m) for the acquisition.

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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