A series of kamsarmax newbuildings is in the works for Chinese state-owned Shandong Shipping for charter to trading giant Bunge.
The Shandong Shipping board has approved performance guarantees to back seven-year time charters of four kamsarmax newbuildings to commodities major Bunge.
The deal is the first long-term arrangement between the Chinese provincially-owned company and the trader, although the two outfits have been counterparties on smaller deals in the past.
