Citic Financial Leasing (Citic FL) has contracted state-owned Chengxi Shipyard to build a series of large wood pulp carrier newbuildings worth around $500m.

The Jiangsu-based shipbuilder said the Chinese leasing company has ordered 10 units of the 84,500-dwt ships.

It said the wood pulp carriers will meet the International Maritime Organization’s Energy Efficiency Design Index (EEDI) Phase 3 specifications, and are a new generation of green, environmentally friendly, energy-saving ship type.