Ahrenkiel Steamship of Germany is looking to tap the Chinese lease financing market in a $55m deal with the Bank of Communications Finance Leasing Co (Bocomm).

The company’s full fleet of five supramax bulkers have been sold en bloc with a charter back to the shipowner, according to various European broking houses.

A Bocomm executive confirmed that a deal is under discussion but said on Tuesday that no letter of intent has been signed.