Turkey’s Ciner Shipping Industry & Trading has sold two suezmax newbuildings to CSSC (Hong Kong) Shipping for $127m in a sale and leaseback deal.
As part of the deal the Vasileios Papakalodoukas-led shipowner will take the two vessels back on 10-year time bareboat charters at a total cost of $126.95m.
Upon expiration of the charter period, Ciner is obliged to purchase the vessels from CSSC Shipping at a consideration agreed by the two parties.
