CSSC Shipping has teamed up with CGN International Financial Leasing to acquire a newbuild wind turbine installation vessel.
The Hong Kong-listed leasing arm of state-owned China State Shipbuilding Corporation said in a filing that the vessel would be picked up from Guangzhou Shipyard International for $98m.
The deal will see CGN own 70% of the vessel, while the remaining stake will be spread across three CSSC Finance Leasing units.
The 1,600-ton WTIV, expected to deliver in September 2023, will be chartered to Summer Bihai for 78 months in a deal worth around $35.8m. The company is principally engaged in the sale and research and development of offshore wind turbine equipment and the provision of related services, SSC Shipping said.