Sale and leaseback agreement

CSSC, two tankers from Ciner Shipping

by Port News Editorial Staff

CSSC (Hong Kong) Shipping has signed an agreement with Turkish owner Ciner Shipping for the sale and leaseback of two new 158,000 dwt tankers.

The operation is estimated to be worth around $127 million. The two units will be leased to the same Turkish company through a 10-year bareboat charter contract.

Both the vessels will be built by Hyundai Heavy Industries shipyards.

CSSC Shipping, a China State Shipbuilding Corp company, has a fleet of 130 ships, many of which were built by its subsidiaries

Translation by Giles Foster

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