EuropeFinance and InsuranceGreater ChinaOperations

Gram Car Carriers strikes sale and leaseback deal with CSSC Shipping

Norway’s Gram Car Carriers has entered into a sale and leaseback agreement with CSSC Shipping, the financial leasing unit of China State Shipbuilding Corporation, for two 6,700 ceu vessels.

Under the deal, CSSC Shipping will acquire the 2015-built Viking Adventure and Viking Bravery for $70m and charter them back for a period of 96 months. The total charterhire of the deal is around $86.3m, including an estimated lease interest of approximately $15.3m.

The Norwegian car carrier operator will repurchase the vessels upon the expiration of the charter. The company has a fleet of 18 vessels, including the two vessels it recently agreed to buy from German owner F. Laeisz in exchange for new shares in a private placement worth around $61.6m. 

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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