ContainersFinance and InsuranceGreater China

CSSC Shipping seals sale and leaseback deal for two boxships

Hong Kong-listed CSSC Shipping, the leasing arm of China State Shipbuilding Corporation (CSSC), has announced that the company has entered into sale and leaseback deals for two 1,400 teu containerships.

CSSC Shipping will acquire the two dual-fuel ships from an unnamed French company for $64m in total and charter them back to the seller’s German subsidiary for a period of 12 years upon delivery in 2021.

Splash understands that the two ships are newbuildings, which will be built at a CSSC yard, most likely Huangpu Wenchong Shipbuilding.

CSSC Shipping commenced an IPO on the Hong Kong Stock Exchange in June and planned to use most of the proceeds to finance the acquisition of ships.

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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