Shipping News

CSSC (Hong Kong) Shipping inks sale and leaseback deals for two boxships

CSSC (Hong Kong) Shipping Company has entered sale and leaseback agreements for 1,400-teu dual-fuel container vessels.

Two wholly-owned special purpose vehicles of CSSC (Hong Kong) Shipping will acquire the two vessels from the seller and the bareboat charters with the charterer, a subsidiary of the seller.

The pair of container vessels will be purchased at a total price of $64m, and they will be leased back to the charterer at a total charter hire of $64m.

The charter period will be 144 months commencing from the date on which the vessels are delivered.

The delivery dates of the vessels are expected to 31 January 2021 and 30 April 2021, respectively.

CSSC (Hong Kong) Shipping  said the deal “will strengthen the group’s leasing business and is consistent with the group’s overall business development strategies.”

Read more: CSSC leasing arm to raise up to $280m from IPO

Posted 9 August 2019

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