China’s Ningbo Ocean Shipping is looking to add two 7,000 ceu LNG dual-fuel car carriers under a long-term leasing programme, with potential rental payments of up to $480m.
The Shanghai-listed carrier disclosed the plan in a stock exchange filing, saying it or one of its subsidiaries intends to lease the vessels from a financial leasing company for a period of up to 20 years.
Ningbo Ocean has yet to select a leasing partner or agree on the final financing terms. The company has also not identified the vessels, their source or delivery dates. The proposal remains subject to shareholder approval, with a vote scheduled for October 26.
The move comes just two months after Ningbo Ocean entered the car carrier market with the 7,000 ceu Clean Star, which it chartered for two years at a reported $80,000 per day.
The LNG dual-fuel vessel, built at CIMC Raffles in China and backed by Greek owner Atlas Maritime and Danish investment firm European Maritime Finance, began carrying Chinese-made vehicles to Europe in August, with calls including Gioia Tauro and Barcelona.
Ningbo Ocean, controlled by Ningbo-Zhoushan Port Group, has traditionally concentrated on container and dry bulk shipping, building up its fleet through successive newbuilding programmes at Chinese yards.
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Adis Ajdin
Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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