On September 17, a time charter was signed between Shandong Shipping Corporation (Hereinafter referred to as “Shandong Shipping”) and Royal Dutch /Shell Group of Companies (hereinafter referred to as “Shell Group”) for eight 50000 DWT IMOII product chemical MR tankers in Jinan.

Shandong Shipping operated a fleet of 64 ships with a total capacity of 8.32m TEU, making it the third-largest liner in China before signing the charter. In terms of the dry bulk carrier, it has the first 250,000 DWT ore carrier as well as the largest 400,000 DWT ore fleet in the world; In the liquid and bulk cargo carrier section, it possesses three MR product tankers. After that, its total capacity will increase to 8.72m TEU. The company also has 11 oil and chemical ships, ranking the third in China.
On the same day, Shandong Shipping also signed a joint lease agreement with ICBC Leasing for four 82,000 DWT Kamsarmax bulkers and a time charter with Bunge.

When closed these contracts, Shandong Marine Group Ltd. will remain the third place in China with a total capacity of 9.43m TEU.