China Shipping Development is issuing convertible bonds to raise RMB3.95bn to build 13 oil tankers and 6 bulk carriers, Seatrade Asia online reports.“This time we issue the A share convertible bonds to raise RMB3.95bn to fund our ships including three 110,000dwt aframaxes, eight 48,000dwt MR tankers, two 308,000dwt VLCCs and six 76,000dwt panamaxes. The ships will be delivered during next two years,” an official from China Shipping Development told Seatrade Asia. “The fund we planned to raise will be used for some payment of these ships. After delivery, they will be deployed on both domestic and international routes.”
According to announcement of the company, CSDC currently operates six aframaxes, two of them will be eliminated before 2013, and 18 single hull tankers engaged in domestic trading will be gradually eliminated before 2015.
According to announcement of the company, CSDC currently operates six aframaxes, two of them will be eliminated before 2013, and 18 single hull tankers engaged in domestic trading will be gradually eliminated before 2015.