CSSC Shipping orders 10 new 80,000 DWT bulk carriers

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CSSC Shipping is expanding its dry bulk portfolio with 10 new 80,000 dwt bulk carriers in China, Splash 247 reports. The deal is worth around $481 million and will add a large block of new tonnage to the company’s fleet.

The vessels will be built by Chengxi Shipyard and CSSC Guangxi, with deliveries planned from September 2029 to the end of 2030. Each ship will cost about $48.1 million. CSSC Shipping plans to fund the project through internal resources and bank loans.

The new bulkers will use updated designs to meet current environmental requirements, reduce fuel use and improve operating efficiency. After delivery, the ships will generate income through operating or finance leases.

The order comes as CSSC Shipping continues to expand its fleet. At the end of June, it had 130 vessels, including 107 in operation and 23 under construction. The operating fleet had an average age of 4.8 years.

The deal still needs approval from independent shareholders because CSSC Shipping and the companies involved in the project are controlled by the China State Shipbuilding Corporation group.

Global News

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