Shandong Shipping plans to order 12 bulk carriers.
2013-09-25 09:00
Shandong Shipping is poised to order up to 12 Kamsarmax bulk carriers with a 82,000 DWT capacity and purchase several second-hand vessels, aiming to double its current fleet size by 2015.
According to TradeWinds, sources indicate that Shandong Shipping has initiated discussions with multiple Chinese shipyards regarding new vessel orders, with Minsheng Financial Leasing providing financing for these new vessels.
An official from Shandong Shipping confirmed the aforementioned fleet expansion plan, stating that the company's capacity is expected to reach 5 million DWT by the end of 2015. Currently, including vessels under construction, the company's fleet capacity is approximately 2.36 million DWT. The company will primarily expand its fleet by ordering new vessels and purchasing second-hand vessels less than five years old. He also confirmed market rumors about the company's intention to order Kamsarmax bulk carriers, but noted that relevant discussions are still in their initial stages. He mentioned that the company is also interested in 64,000 DWT bulk carriers and handysize bulk carriers.
This official pointed out that although the company plans to establish a large fleet, it will also operate flexibly according to market demand, and the expansion plan is not immutable.
Shandong Shipping was established in October 2010. Currently, the company operates at least 10 bulk carriers, including 3 Capesize bulk carriers. In May of this year, the company placed an order with Beihai Shipbuilding Heavy Industry for 4 250,000 DWT Very Large Ore Carriers (VLOCs), expected to be delivered in 2015. The specific price was not disclosed, but industry insiders estimate each vessel to cost approximately $58 million. After delivery, these 4 vessels will be used for a 10-year continuous voyage transportation task with BHP Billiton.
According to Clarksons data, Shandong Shipping also has orders for 2 180,000 DWT bulk carriers at Beihai Shipbuilding Heavy Industry. One is about to be delivered, and the other is scheduled for delivery next year.
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