China Development Bank Financial Leasing (CDB Leasing) is pursuing its shipping fleet expansion with orders for eight 80,000dwt bulk carriers placed with Cosco Shipping Heavy Industry (Yangzhou). The ships, with a total order value of US$221.6 million, are scheduled to be delivered in 2023 and 2024.

Last December CDB Leasing entered the global tanker market, agreeing to acquire 14 product tankers for a total of US$422 million from Maersk Product Tankers. The ships were built between 2016 and 2020.

Maersk Product Tankers, a joint venture between Denmark-based AP Moller Holding and Mitsui, will continue to operate the vessels.

In 2020 CDB Leasing's total assets reached 303.3 billion yuan (US$48.5 billion), up 16.08% from the previous year. Operating income grew 5.37% to 19.33 billion yuan while net profit rose 11.24% to 3.27 billion yuan.

Total new lease financing to lessees reached 104.4 billion yuan, an increase of 11.96%. A total 32 ships were delivered during the year, further increasing the proportion of mainstream ship types. 

Hong Kong-listed CDB Leasing is a subsidiary of China Development Bank.