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Cara Shipping sells five kamsarmaxes to CDB Leasing

Cara Shipping, the Singapore-based shipping unit of China’s Rizhao Steel, has sold five kamsarmax bulkers to CDB Leasing, the financial leasing house of China Development Bank, in a low profile transaction.

Cara Shipping has transferred the ownership of Stella Ellena, Stella Pearl, Stella Dawn, Stella Eva and Stella Belinda to CDB Leasing and the five vessels have been renamed CL Rizhao, CL Tianjin, CL Dalian, CL Singapore and CL Beijing.

The sale is believed to be part of a financial leasing deal.

Cara Shipping also recently sold another two capesize bulkers, Stella Charlene and Stella Annabel, to South Korean owner Sinokor. The two vessels have been renamed Pacific East and Pacific North.

Following the sale, Cara Shipping’s fleet has been downsized to 21 vessels made up of 17 bulkers and four tankers.

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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