CDB Leasing signs USD138.00 million novation deal to acquire three multi-purpose bulk carriers

Bulletin Express07-14

CDB Leasing (China Development Bank Financial Leasing Co., Ltd.) announced that three wholly owned subsidiaries entered into a novation agreement on 14 July 2026 to purchase three multi-purpose bulk carriers for up to USD138.00 million.

The agreement transfers all rights and obligations of Hai Dong International Shipping under an existing shipbuilding contract to the CDB Leasing subsidiaries. Shipbuilder Taizhou Kouan Shipbuilding will construct and deliver the vessels, with handover scheduled for the fourth quarter of 2027.

Transaction terms stipulate payment in five instalments linked to construction milestones. Funding will come from internal resources and commercial bank loans. The price—approximately USD46.00 million per vessel—was benchmarked against market data from Clarksons Shipping Intelligence Network.

After delivery, CDB Leasing intends to deploy the ships under operating-lease arrangements, expanding its presence in the maritime leasing market. Under the Hong Kong Listing Rules, the deal constitutes a discloseable transaction, as the highest applicable percentage ratio exceeds 5 % but is below 25 %, requiring announcement but not shareholder approval.

CDB Leasing provides leasing services across aviation, shipping, energy, high-end equipment and inclusive finance sectors. The three purchasing entities, all based in Tianjin Dongjiang Free Trade Zone, focus on vessel leasing.

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