Canadian tonnage provider Seaspan has inked the first Chinese yuan-denominated newbuilding contract, for six 13,600 teu LNG dual-fuelled ships at Hudong-Zhonghua Shipbuilding for delivery in 2028, a deal reportedly worth around CNY6.39bn ($900m), reports The Loadstar.
ICBC
Reportedly financed by ICBC Financial Leasing (the Industrial and Commercial Bank of China’s leasing unit), the yuan-denomination of the newbuilding contract is part of the Chinese government’s efforts to internationalise the currency in conjunction with the Belt and Road scheme.
It is not known which liner operator will back the long-term charters for the ships. Seaspan was said to be in discussions with ONE, but those negotiations have reportedly stopped. Other liner clients of Seaspan include MSC, CMA CGM and Zim.
Seaspan now has 29 box ships on order, ranging from 7,000-16,000 teu, all being constructed in Chinese shipyards. Its fuelling selection for the latest newbuilds follows a re-emergence of LNG as a fuel of choice among liner operators apparently concerned that insufficient green methanol is being produced.
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Source: The Loadstar
