COSCO Shipping Specialized Carriers Subsidiary Bareboat-Charters Six 60,000-DWT Multi-Purpose Heavy-Lift Vessels

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Summary · why it matters

COSCO Shipping Specialized Carriers announced that its wholly owned subsidiary, Xiamen COSCO Shipping Specialized Transport, acting as the charterer, has bareboat-chartered six 60,000-deadweight-ton multi-purpose heavy-lift vessels from CITIC Financial Leasing, ICBC Financial Leasing, CMB Financial Leasing, and Zheshang Bank Financial Leasing. The announcement shows the total bareboat charter period is about 20 years, with a bareboat charter rate of about 61,000 yuan per day per vessel, tax inclusive. After delivery of the six vessels, the annual bareboat charter payment will be about 134 million yuan. The company said the transaction aims to advance fleet renewal and upgrading, enhance profitability, and improve shareholder returns.

Impact on assets 1

Others▲ · 1 stocks

Off-coverage companies 4

Xiamen COSCO Shipping Special Transportation Co., Ltd.Private▲ Positive
Capitalrelevance

As charterer it secures six 60,000-DWT multi-purpose heavy-lift vessels on ~20-year bareboat charters for fleet renewal and profitability.

CMB Financial Leasing Co., Ltd.Private± Mixed
Capitalrelevance

Named as one of the lessors in the bareboat charter deal, with no company-specific financial detail disclosed.

ICBC Financial Leasing Co., Ltd.Private± Mixed
Capitalrelevance

Named as one of the lessors providing the bareboat charter financing, but no terms or impact specific to ICBC Financial Leasing are given.

浙江浙银金融租赁股份有限公司Private± Mixed
Capitalrelevance

Named as one of the lessors in the bareboat charter deal, with no company-specific financial detail disclosed.