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.