CSSC Shipping seals kamsarmax deal with Minsheng Trust

Hong Kong-listed lessor CSSC (Hong Kong) Shipping has signed up to a sale and leaseback deal with counterpart China Minsheng Trust Co for four kamsarmax vessels valued at US$26.7m each.

 

The newbuildings were ordered from CSSC Chenxi Shipyard in September 2020. In an exchange filing the financial leasing company said it would acquire the 85,000 dwt vessels from the original owner.

 

All four ships will be leased back to the seller for US$133m, including estimated lease interest of approximately US$24.7m, under a ten-year bareboat charter. The charterer must buy back the vessels at the end of the hire period, according to the filing.

 

Minsheng Trust, a subsidiary of Shenzhen-listed Oceanwide Holdings, placed orders for the kamsarmax quartet last year with an option for four more.

 

Source:hongkongmaritimehub 

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