The German non-operating vessel owner Schulte Group is believed to have converted four options for 2,300 teu container vessels at the Chinese Zhejiang Yangfan shipyard. Schulte Group had signed these options along with four firm vessel orders in October 2012.
Ships one, two, three and four of the series are scheduled for delivery between June and December of 2014. Units five through eight should then be handed over between February and August of 2015. The 35,000 dwt container ships were designed by the Shanghai Merchant Ship Design and Research Institute (SDARI).
Hamburg-based Schulte Group is one of the ship owners that actively explored new ways of vessel financing after the demise of the German KG-model. The company partnered for example with private equity specialist JP Morgan to order a series of five 5,300 teu ships at Hanjin Heavy Industries Subic Bay. The vessels were signed in June 2012 for delivery in 2015.