During the last 12 months, we have been able to complete a total of 23 deals with 3 Chinese leasing companies as follows:

• 2 x 209,000 tdw built 2020 – 2021 – resold with 5 + 5 + 2 years floating BB charter back
• 2 x 209,000 tdw built 2020 – taken on 7 + 1 + 1 years fixed TC
• 2 x 180,000 tdw built 2020 – taken on for 7 + 1 + 1 years partly floating TC
• 4 x 81,000 tdw built 2020 – resold with 5 + 2 + 1 years floating BB charter back
• 8 x 63,500 tdw built 2015-2018 – sold with 3 years floating TC back
• 5 x 61,000 tdw built 2014 – sold with 3 years floating TC back

None of these deals involve lease finance. The charters we provided are market related and mostly on a floating index rate basis. The 10 Capes and Kamsarmaxes will all be equipped with scrubbers, eight of them with open loop scrubbers and two of them with hybrid scrubbers.

In the meantime, our business relationship with Chinese shipyards has also intensified: In the 35 years between 1986 and 2021, we will have taken delivery of 106 newbuildings from a total of 23 Chinese shipyards (contracted or bought as newbuilding resales).

Our long and strong relationship with Chinese shipyards began in 1986, when we bought two 28,000 tdw lakes-fitted bulk carriers as newbuilding resales from Dalian Shipyard at US$ 4.5 million each.

Our 2019 – 2021 newbuilding program in China and Japan is comprised of 32 ships, of which 8 have been resold, while another 9 have employment attached.

• 4 x 209,000 tdw – 2020 – 2021 ex-Hantong (2 resold)
• 2 x 100,000 tdw – 2020 ex-Oshima
• 12 x 81,250 tdw – 2019 – 2020 ex-Hantong (6 resold, 3 chartered out)
• 3 x 62,500 tdw – 2020 ex-Oshima
• 3 x 61,600 tdw – 2019 ex-NACKS (2 chartered out)
• 3 x 61,600 tdw – 2019 ex-DACKS
• 1 x 38,000 tdw – 2019 ex-Beihai
• 2 x 36,000 tdw – 2019 ex-Samjin (chartered out)
• 2 x 27,000 tdw – 2022 ex-Chengxi (transloaders for Vietnam)

We are very pleased with the Chinese built vessels that we are operating in our global network of trades. A lot of trust and friendship has been built with several yards and we will keep going back to China for more newbuilding’s and resales in the future. Below is the ranking list of 106 newbuildings from 23 Chinese yards:

• 19 at Hantong (7 x 209k, 12 x 82k)
• 17 at Jinling (6 x 81k, 11 x 39k)
• 8 at Yangzijiang (4 x 209k, 2 x 94k, 2 x 63k)
• 8 at SWS (6 x 206k, 2 x 208k) on BB charter
• 7 at Taizhou CATIC / Kouan (7 x 209k)
• 7 at NACKS (6 x 61k, 1 x 55k)
• 6 at Qingshan (6 x 63k)
• 4 at Dalian SY (2 x 29k, 2 x 28k)
• 4 at Wuhu (4 x 20k)
• 3 at Jiangnan (1 x 74k, 1 x 73k, 1 x 70k)
• 3 at Jianghua Nantong (3 x 13k)
• 3 at DACKS (3 x 61k)
• 3 at Samjin (1 x 58k, 2 x 36k)
• 2 at AVIC Weihai (2 x 38k)
• 2 at Chengxi (2 x 27k)
• 2 at GSI Guangzhou (2 x 44k)
• 2 at Beihai (2 x 180k)
• 1 at Yonghua (1 x 13k)
• 1 at Huahai / Beihai (1 x 38k)
• 1 at Sinopacific (1 x 63k)
• 1 at Maple Leaf (1 x 32k)
• 1 at Penglai Jinglu (1 x 75k)
• 1 at Shanghai Shipyard (1 x 50k)

Total 106 newbuildings from 23 different Chinese yards in the 35 years between 1986 and 2021.