CSSC Shipping signed chartering contract

On 24 August 2020, CSSC (Hong Kong) Shipping announced that its wholly-owned subsidiaries Fortune Wuxi and Fortune Suzhou entered into a memorandum of agreement and a bareboat charter agreement with the charterer.

Fortune Wuxi and Fortune Suzhou have agreed to buy ships from charterers; And to charter the ship back to the charterer in accordance with the total estimated rent of $126.95 million.

Charterer Zeynep Maritime and Ayse Maritime are companies incorporated in the Republic of Malta and ultimately owned by Ciner Shipping(a company incorporated in the Republic of Malta).

Ciner Shipping is a leading marine shipping service provider and ultimately owned by Mr. Turgay Ciner.

The vessels are two crude oil tankers of 158,000 DWT with a total value of US $127 million, equivalent to the total shipbuilding price set out under the relevant shipbuilding contracts.

The two vessels are expected to be delivered before August 2020, and the chartering period is 120 months from the delivery date.

Source: Sarah Yu, XINDE MARINE NEWS

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