On July 15, 2020, STL signed the ship transfer agreement with MISC BERHAD, and the company signed the ship chartering contract with Portovenere and Lerici (Singapore) Pte. Ltd.,a wholly-owned subsidiary of MISC.
 
The company's subsidiaries Pang Tian (Hong Kong), Pang Xin (Hong Kong), Xin Ren (Hong Kong), Chang Xiu (Hong Kong), Man Xiu (Hong Kong), Xin Xiu (Hong Kong) and MISC respectively signed ship transfer agreements with the total cost of the six ships is about $717 million.
 
Among them, three ships of Samsung Heavy Industries cost about US $364 million and three ships of Hyundai Heavy Industries cost about US $353 million.
 
The company has signed a term chartering contract with Portovenere and Lerici (Singapore) Pte. Ltd., to provide logistics and transportation services for Lianyungang petrochemical project and the company's trading business.
 
It is an operating chartering. The transportation service starts from the fourth quarter of 2020, with a chartering term of 15 years and a total rent of about 1.5 billion US dollars.
 
Source: Sarah Yu, XINDE MARINE NEWS

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