SPDB Financial Leasing, the leasing arm of Shanghai Pudong Development Bank, has placed an order at Nantong Cosco KHI Engineering (NACKS) for the construction of four 61,000 dwt ultramax bulk carriers.
The newbuild order is part of a financial leasing deal between SPDB Financial Leasing and BG Shipping, the shipping unit of Guangxi Beibu Gulf International Port Group.
The vessels are expected to be delivered by the end of 2021 and the price for each ship is around $24m. SPDB Financial Leasing currently owns a fleet of 25 vessels.
BG Shipping currently operates a fleet of 18 bulk carriers, 16 panamaxes and two ultramaxes, with most of the vessels are brought in through financial leasing deals with China Development Bank.