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SPDB Financial Leasing orders ultramax quartet for BG Shipping deal

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.

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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