SIMIC

Katherine Si | Jun 13, 2022

The company has inked two operating lease contracts for five 70,000 dwt pulp carriers with Bank of Communications Financial Leasing and China Merchants Bank Financial Leasing, respectively, and another contract with Shanghai Pudong Development Bank Financial Leasing for another two 70,000 dwt pulp carriers. 

All the twelve vessels, constructed by Cosco Shipping Heavy Industry (Dalian), will be operated under 15-year chartering contracts. 

Related: CMB Financial Leasing ordering eight bulkers from China yards

The company is capable to provide stable supply chain services for pulp transportation. Operational leasing deal of these 12 vessels will help the company to improve operation efficiency and flexibility in the market, as well as the revenues, said Cosco Shipping Specialized Carriers.

Cosco Shipping Specialized Carriers currently runs a fleet of over 100 ships mainly consisting of multi-purpose vessel, heavy lift vessel, car carrier, timber ship and asphalt tanker.