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.

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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