Beijing-based ICBC Leasing and Hong Kong's China Merchants Energy Shipping (CMES) are ready to sign a contract with Qingdao Beihai Shipbuilding Heavy Industry for up to nine ships in the latest round of very large ore carrier (VLOCs) newbuildings.

The order marks the second such financial partnership of China's biggest ship finance powerhouse and CMES, which is state-owned but commercially and internationally oriented.