Zhonggu fixes finance

Shanghai Zhonggu Shipping has clinched financing for two of its 10 boxship newbuildings on order in China.

Shanghai Guojin Leasing has signed an agreement to provide cash for the 2,500-teu vessels, Asian reports said.

The original 2013 order was for six vessels worth $127.4m, delivering from China’s Zhoushan Wuzhou Ship Repairing & Building Co in 2015, but the company looks to have declared four options since.

Zhonggu Shipping is a coastal liner company that was privatised in 2003. Its website says it operates around 40 vessels totalling 500,000 dwt. The fleet includes six 1,746-teu boxships built between 2012 and 2013.