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Tongli Shipping inks kamsarmax sale and leaseback deal with CSSC Shipping

Photo of Jason Jiang Jason JiangFebruary 1, 2021
545 Less than a minute
Tongli Shipping

CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, has entered into a sale and leaseback deal with Singapore-based Tongli Shipping for two kamsarmax bulkers.

Under the deal, CSSC Shipping will acquire two newbuild 82,000 dwt bulk carriers from Tongli Shipping and charter them back to the company for a period of 120 months.

The vessels are currently under construction at Chengxi Shipyard and are expected to be delivered by October 2022 and January 2023.

The total estimated charterhire to be paid to CSSC Shipping is around $65.7m including lease interest of $13.85m.

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Photo of Jason Jiang Jason JiangFebruary 1, 2021
545 Less than a minute
Photo of Jason Jiang

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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