Dry CargoFinance and InsuranceGreater China
CSSC Shipping inks sale and leaseback for four bulkers with China Minsheng
CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, has entered into a sale and leaseback agreement with Minjun Shipping, a wholly owned subsidiary of China Minsheng Holdings.
Under the agreement, four special purpose vehicles of CSSC Shipping, namely Fortune Civilization Carriers, Fortune Equality Carriers, Fortune Freedom Carriers and Fortune Integrity Carriers will acquire four 85,000 dwt bulk carriers from China Minsheng and charter them back for a period of 120 months. Total charter payment under the arrangement is about $133m.
The vessels are expected to be delivery by November 2021, March, June and September 2022 respectively.