CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, has announced that it has entered into sale and leaseback agreements for two newbuild product tankers.
According to CSSC Shipping, it has bought the two 55,600 dwt vessels from two SPVs ultimately owned by Jiang Wenjuan and chartered them back to the owner. One of the vessels has been delivered in June and the other vessel is expected to be delivered by August.
Jiang is the chairman of Hong Kong-based owner Goldwin Shipping and the two vessels in the deal are believed to be the company’s newbuild tankers GW Dolphin and GW Fortune, both built by CSSC Chengxi Shipyard.
The charter period for the two vessels is 120 months and the total charter fee under the agreement is $78.07m including estimated interest of $18.04m.
Following the sale and leaseback deal, Goldwin’s owned fleet is left with two bulk carriers.