Singapore-based bulker owner Dasin Holdings has sold eight supramax bulk carriers to Cosco Shipping Leasing under a sale and leaseback arrangement.
Both Allied Shipbroking and Seasure Shipbroking reported that Cosco Shipping Leasing has acquired Mandarin Phoenix, Mandarin Eagle, Mandarin China, Mandarin River, Mandarin Hantong, Mandarin Singapore, Mandarin Noble, and Mandarin Dalian, all built by Hantong Ship Heavy Industry between 2008 and 2012, from Dasin for an undisclosed price.
Dasin Holdings, controlled by China Dalian International Cooperation Group, owns a fleet of 18 bulk carriers made up of 16 supramaxes, one handymax and one ultramax.
Last month, Cosco Shipping Leasing approved a plan to set up a subsidiary in Tianjian Dongjiang Bonded Area in order to further expand its ship finance business. The company currently owns a fleet of 17 vessels.