China Ship Leasing (03877) issued an announcement. On May 20, 2024, the company's wholly-owned special purpose company...
According to Zhitong Financial App, China Ship Leasing (03877) announced that on May 20, 2024, the company's wholly-owned special purpose companies Fortune CSASP I and Fortune CSASP II have signed a memorandum of agreement and bareboat leasing agreement with (among others) the lessee Asia Pacific Shipping Company. Based on this, Fortune CSASP I and Fortune CSASP II have agreed to purchase ships from the lessee at a cost; and The ship was leased back to the lessee based on the estimated total rent payable by the lessee of approximately $129 million (including estimated lease interest of approximately $55,354 million).
According to reports, the ships are two finished tankers, with a total value of 132 million US dollars, which is equivalent to the total shipbuilding price of a ship under the relevant shipbuilding contract.
The announcement stated that the conclusion of the Memorandum of Understanding and the Bareboat Leasing Agreement will consolidate the Group's leasing business and be in line with the Group's overall business development strategy.