Eastern Pacific taps Chinese leasing for LNG-powered boxship duo
Idan Ofer-controlled shipowner has secured funds from SPDB Financial Leasing for two LNG dual-fuel, ultra-large containerships, part of a larger order backed by CMA CGM charters
Deal strengthens EPS’s partnership with Chinese financiers as it expands its fleet with a focus on sustainable shipping
SINGAPORE-based shipowner Eastern Pacific Shipping has secured financing from China’s SPDB Financial Leasing for two newbuilding ultra-large containerships capable of running liquefied natural gas as a fuel.
The deal has reinforced “the strong partnership between the two companies in sustainable ship financing,” said EPS in a statement.
Lloyd’s List understands the pair is part of the order for eight LNG dual-fuel, 18,000 teu vessels plus four optional units EPS placed at Jiangsu New Times Shipbuilding last year, backed by long-term charters from CMA CGM.
Each ship cost more than $200m, with delivery scheduled between 2027 and 2028, brokers reported at the time.
SPDB Leasing, a subsidiary of Shanghai Pudong Development Bank, could finance up to 90% of the ship’s price, backed by the shipowner’s strong credit standing and secured charter agreement, according to industry sources.
The EPS fleet tipped over the 300-vessels mark last year, with about 120 on order and more than 180 on the water. The size of the fleet had almost tripled in terms of deadweight — and, in terms of value, it had quadrupled, given that these are generally the top end of the size ranges.
The company was an early adopter of LNG and has since set its sights on ammonia as the next step.
