Minsheng Financial Leasing promotes collective ordering

One of the major Chinese shipping financial leasing company, Minsheng Financial Leasing is promoting a creative ordering method to help small shipowners sign shipbuilding orders more conveniently, SinoShipNews reports.

“We have a new product called collective ordering targeted at middle and small sized shipowners,” a Minsheng official told SinoShip News, adding: “We invite several owners and discuss the ship type, price and technology together, then, we can negotiate with the yards for the specific ship type to get a better shipbuilding price, because we can order several ships at one time. It should be a good way to help small owners to win ideal deals.” With the current slump in freight rates the official admitted he did not expect to see a big pick up for this innovative financing method at the moment.