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.