CSSC Shipping obtains financing for ship acquisitions

Hong Kong-based financial leasing house CSSC Shipping has secured a US$116.8m loan facility from an unnamed bank. The subsidiary of China State Shipbuilding Corporation said the facility will be used to purchase four vessels.

 

The facility is to be repaid within ten years.

 

CSSC’s last notable sale and leaseback agreement was entered into with South Korea's Sinokor Shipping for four 1,080 teu newbuilding containerships.

 

At present CSSC Shipping owns a fleet of more than 50 vessels  with a further 20 on order.

 

Source:hongkongmaritimehub 

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