On October 21, COSCO Shipping Development issued a related transaction notice on the cooperation with COSCO Shipping Specialized Carriers on the multi-purpose pulp ships, in which it will purchase 10 62,000 DWT multi-purpose pulp ships through two subsidiaries and chartering them to COSCO Shipping Specialized Carriers for operation.
The 10 multi-purpose pulp ships were originally ordered by COSCO Shipping Specialized Carriers and its wholly-owned subsidiary COSCO Shipping (Hong Kong) Investment Development in COSCO Shipping Heavy Industry (Dalian), including the 62000 ton Hong Kong Flag multi-purpose pulp ships (N1006 and N1007) invested by COSCO Shipping (Hong Kong) Investment Development in 2018 and eight 62000 dwt pulp carriers signed by the company.
After the delivery of the vessels, the above 10 pulp vessels will be chartered to COSCO Shipping Specialized Carriers for operation by means of operating lease, with the term of 15 years.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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