On Nov. 15, 2018,Shandong Shipping Co.,Ltd. under Shandong Marine Group Ltd. signed a newbuilding contract with SWS for the construction of ten 180K DWT Capesize Bulk Carriers in Qingdao, via Bocom Leaseing as a financier . This is another cooperation between the two sides since the contract signing of four jack-up drilling rigs in 2014. This contract is the largest order for merchant vessel products harvested by SWS in this year.
Jiang Cheng, Director of Transport Department and Secretary of Party Group of Shandong Province, Wang Xuchao, Second Inspector of State-owned Assets Supervision and Administration Commission of Shandong People's Government, Bao Jianying, Secretary and Chairman of Party Committee of Shandong Marine Group Ltd., Peter Krember, Director of RAG, Zhao Xiujun, Vice President of Shandong Branch of Bank of Communications Co., Ltd., and Secretary of Party group of CCS Mo Jianhui, Party Committee Secretary and Chairman Yu Bing of Shandong Shipping Co., Ltd., President Fran?ois Kadi of Baili Shipping Group Co., Ltd., Party Secretary and Chairman Wang Qi of SWS attended the ceremony and witnessed the signing of the contract. Fang Xiuzhi, Director of Shipping Business of Bocom Leaseing. and Chen Gang, President of SWS signed the contract on behalf of both parties.
The vessel has a total length of 292 meters, a length between perpendiculars of 286.4 meters, a width of 45 meters, a depth of 24.9 meters, and a scantling draft of 18.3 meters. It will be classed by CCS and meets the requirements of the new regulation of CSR-H, TIER III and EEDI standards.
SWS's capesize bulk carriers have been successfully developed to the 11th generation. It is the "first brand" of Chinese ships with the largest construction scale and the highest market share. Since its establishment 19 years ago, SWS has delivered 438 ships and offshore products, among which capsize bulk carriers account for more than half. The contracted product is a new type vessel of green environmental protection which developed to meet the requirement of shipowners. It can fully adapt to the current shipping market, and the vessel’s performance has reached the world's leading level. Batch contract signing is not only conducive to improving shipbuilding efficiency, reducing production costs, but also benefit to maintain the stability and sustainable development of company’s production.
Shandong Shipping which under Shandong Marine Group Ltd. is a state-owned large-scale enterprise approved by the Shandong Provincial People's Government. The dry bulk carrier fleet ranks among the top in the country. The company operates the world's largest 400K DWT VLOC, invested in the construction of the world's prototype 250K DWT Ore Carrier, and established the world's largest LPG fleet in China.
The shaking-hands again between SWS and Shandong Shipping will not only conforms to the high-quality development strategy of CSSC on "combining industry and finance for development" and "building the global service brand of CSSC", but also set up a model for Chinese shipping industry, shipbuilding industry, and financial industry to promote win-win situation with international well-known enterprises, and contribute to the development of the National Marine Economy.
