C&D Shipbuilding is 100% controlled by Xiamen C&D Inc. (public listed in Shanghai), while Xiamen C&D Corporation Limited has controlling stake over Xiamen C&D Inc., who just boosts C&D Shipbuilding’s aspiration in its newbuilding financing scheme.
We began the shipbuilding business in late 1990s when we utilized our Germany office to successfully “attract” Swedish owners to place newbuilding orders in Chinese shipyard with a generous bridging financing package from C&D group, the parent company of C&D Shipbuilding. At the then depressed market, our willingness to provide bridge financing just evidenced our determination for and commitment to further development in Chinese shipbuilding.
Since then, C&D shipbuilding held the course and made its continuous engagements in Chinese shipbuilding.
In 2002, together with Fujian Shipbuilding Corporation Group, we jointly sponsored the establishment of Xiamen Shipbuilding, now a leading player for the construction of car carrier, container vessel and bulk carrier.
In 2009, we initiated our mid- and long term post-delivery financing by a BBHP deal with an Australian engineering company for a series of offshore support vessels, and in the same year, we committed ourselves to a 5 year seller credit post-delivery financing deal with a Germany owner for its newbuilding project in China.
And now, we are still on the trajectory for developing suitable and workable newbuilding and financing solution in Chinese shipyards in the current depressed market.
Key Businesses in Summary
- contracting newbuilding for our own yard or other chinese yards
- refund bank guarantee provision under the shipbuilding contract
- bridge financing for the owner or the yard during the construction
- seller export credit (mid- or long term financing) for the owner after the delivery
- equity contribution to promising newbuilding projects
- ship owning and chartering