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Shandong Shipping and ICBC Leasing team up on $600m newbuild projects

Eight MR tankers will be chartered to Shell on fixed rates for eight years while four kamsarmax bulkers are to be hired by Bunge Limited for 10 years at a floating rate. Company is believed to be aiming at a dual listing in Hong Kong and mainland China

Shandong Shipping has been quickly expanding its fleet over the past one year, with orders for 10 kamsarmaxes made earlier this year

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