Dry CargoGreater China
CSC Phoenix seals sale and leaseback for supramax bulker
Chinese dry bulk operator CSC Phoenix has announced a plan to sell its 2003-built 52,400 dwt supramax bulker Chang Yu Hai to Wanjiang Financial Leasing.
As part of the deal, the Japanese-built vessel will be sold for RMB50m ($7.66m) and CSC Phoenix will charter it back for five years. VesselsValue‘s valuation on the vessel is $6.27m.
CSC Phoenix expects to use the proceeds from the sale to further develop its fleet.