A big order! Ten vessels!

DSIC (a subsidiary of CSSC) has got the order of building ten 65000 ton bulk carriers from CITIC Financial Lease Co., Ltd, together with China Shipbuilding Trading Co., Ltd on 29^th March 2022. Representatives of these parties have signed the shipbuilding contract by cloud signing. Mr. Yu Xiudong, the President of CITIC Financial Lease, Mr. Hu Kai, the General Manager of China Shipbuilding Trading Co., Ltd and Mr. Yang Zhizhong, the Party Secretary and Chairman of DSIC have attended the signing ceremony.

The vessel has a total length of 209.95m, width of 34.8m, depth of 18.0m and design draft of 11.70m. It adopts the new generation design from Shanghai Vessel Research Institute and could navigate the coastal zone and Yangtze ports below Nanjing. Its oil consumption per nautical mile is apparently better than similar vessels and its energy efficiency index is 25% lower than the domestic baseline. Thus, it has outstanding economic performance. Meanwhile, this vessel has adopted a new superstructure with low drag coefficient. The effect of reducing drag is quite obvious during navigation. Thus, it has the performance advantages of saving energy and protecting the environment. Moreover, in accordance with “Ocean Carrier Major Performance Grading” (CB/T 3886-2002), this vessel has extraordinary performance among similar vessels and has reached the special grade.

CITIC Financial Lease is a solely-owned subsidiary of China CITIC Bank as approved by China Banking Regulatory Commission, and is an important strategic layout of CITIC Group and CITIC Bank in serving the tangible economy. By the end of 2019, CITIC Financial Lease has invested more than RMB 100 billion in total and is one among the market leaders in terms of financial lease, and has become the backbone for the integrated financial service for CITIC Bank.

It is the first time that CITIC Financial Lease placed the order for new-builds through the operational lease model, which fully reflects its trust on DSIC and China Shipbuilding Trading Co., Ltd and reinforced the market share of DSIC in the field of bulk carriers. Meanwhile, this cooperation will further improve the strategic cooperation of DSIC and CITIC Group and fully reflect their industrial and financial advantages in their own fields. It will promote the coordinated development in industry and finance and contribute their capabilities in shipbuilding and finance for the purpose of building China into a strong ocean country.