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Ciner Shipping sells suezmax tanker pair to CSSC Shipping

Ciner Shipping sells suezmax tanker pair to CSSC Shipping

Ciner Shipping has concluded an agreement with CSSC Shipping, China State Shipbuilding Corporation's financial leasing unit, for the sale and leaseback of two 158,000 dwt suezmax tankers.

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Under the deal, Ciner Shipping will sell the two vessels to CSSC Shipping and charter them back at a total charter expense of $126.95 m with an annual lease value of $29.46 m for a duration of ten years. Hyundai Heavy Industries are expected to deliver the vessels, Ayse C and Zeynep, this month.

Meanwhile, CSSC Shipping has signed an agreement with a bank to borrow $48.26m to fund the vessels' purchase costs. The loan is to be entirely repaid within one year.

Maritime Business World 

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