CSSC Shipping, the Hong Kong-listed leasing arm of China State Shipbuilding Corporation, has expanded its dry bulk fleet with an order for two newcastlemax newbuilds. The deal strengthens its position in the bulk sector and is part of a broader fleet optimization strategy.
Deal Details
The vessels, each with a deadweight tonnage (dwt) of 210,400, will be built by Qingdao Beihai Shipbuilding in collaboration with China Shipbuilding Trading.
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Price per vessel: RMB528 million (approx. $73.5 million)
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Delivery dates: December 2027 and March 2028
Fleet Strategy and Ownership
The ships will be managed under two of CSSC’s special-purpose vehicles:
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Fortune Propulsion
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Fortune Prosperity
With over 30 bulkers in its portfolio, CSSC Shipping sees the acquisition as a way to optimize its fleet profile and maintain competitiveness in the dry bulk sector.
Shareholder Approval
Since all parties involved belong to the CSSC group, the deal will require independent shareholder approval, as noted in the company’s regulatory filing.
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Source: SPLASH247
