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CSSC (Hong Kong) Shipping inks sale and leaseback contract for two tankers

CSSC (Hong Kong) Shipping wholly-owned SPVs Fortune Wuxi and Fortune Suzhou have entered into the Memorandums of Agreement and bareboat charters for two oil tankers.

The charterers are Zeynep Maritime and Ayse Maritime, both of which are companies incorporated in the Republic of Malta and ultimately owned by Ciner Shipping.

The vessels are two 158,000 dwt crude oil carriers, and are of an aggregate value of $127m. Both of the vessels are expected to be delivered by August 2020.

The charter period is 120 months commencing from the respective delivery dates.

The transaction will strengthen the group’s leasing business and is consistent with the group’s overall business development strategies, said CSSC (Hong Kong) Shipping.

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