ZhongGu plans to sell four container ships

On April 26, ZhongGu Logistics announced that it plans to sell four container ships to large international container liner companies at a total price of $128 million to $135 million.
 
The four container ships to be sold by the company, "Zhonggu Guangdong", "Zhonggu Guangxi", "Zhonggu Zhejiang" and "Zhonggu Hebei", have a total of 244,400 DWT, which were successively purchased by the company from March 2017 to March 2020 with a total purchase price of 254 million yuan. The current age of the vessels is 12-16 years.
 
The four container ships mentioned above all adopt the straight-line method to depreciate. As of March 31, 2021, the unaudited book value of the net assets totaled RMB 219 million.
 
Announcement shows that the transaction is conducive to the company's overall ship upgrading, help to further enhance the technical and economic level of the company's fleet, so as to improve the company's overall business competitiveness.
 
According to the preliminary calculation of the company, the sale will generate after-tax asset disposal income of RMB 46-494 million.
 
This transaction reflects the recent booming container shipping market. As of last Friday, SCFI hit a record high of 2,980 points, a month-on-month increase of approximately 5.2%. At the same time, the daily rent of an 8,500TEU container ship reached USD 54,000, the daily rent of a 4250TEU container ship reached USD 42,000, and the daily rent of a 2500TEU container ship reached USD 28,000.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.