COSCO SHIPPING Specialized Carriers Co LtdWholly owned subsidiary bareboat-charters six heavy-lift vessels to advance fleet renewal, enhance profitability and shareholder returns.

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.
COSCO SHIPPING Specialized Carriers Co LtdWholly owned subsidiary bareboat-charters six heavy-lift vessels to advance fleet renewal, enhance profitability and shareholder returns.
As charterer it secures six 60,000-DWT multi-purpose heavy-lift vessels on ~20-year bareboat charters for fleet renewal and profitability.
Named as one of the lessors in the bareboat charter deal, with no company-specific financial detail disclosed.
Named as one of the lessors providing the bareboat charter financing, but no terms or impact specific to ICBC Financial Leasing are given.
Named as one of the lessors in the bareboat charter deal, with no company-specific financial detail disclosed.