Shun Yuen Enterprises Group has taken redelivery of two asphalt carriers from a Cosco subsidiary in the wake of US sanctions against arms of the state-controlled shipping giant.
The mutually agreed charter termination is meant to spare Hong Kong-listed Shun Yuen any knock-on effects from US sanctions on China Cosco Shipping subsidiaries.
Cosco’s $3.91m payout for the early termination breaks down as $1.33m
