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CSSC Shipping fixes suezmax deal with the Restis family

Greece’s Restis family has sold a suezmax to CSSC Shipping, according to a release on the Hong Kong Stock Exchange from the the Chinese shipbuilder’s subsidiary.

Under terms of the deal, the Greek outfit will take the two-year-old Energy Triumph on a 10-year bareboat charter.

The ship is worth $56.25m, CSSC Shipping, the leasing arm of China’s top shipbuilder, said, while the bareboat deal comes in at a total of $57.58m over the 10-year period.

“The Directors believe that entering into the Memorandum of Agreement and the Bareboat Charter will strengthen the Group’s leasing business and is consistent with the Group’s overall business development strategies,” CSSC Shipping stated.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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