The Hong Kong-listed outfit will pay SITC Shipowning just over $50m for the vessels, it announced today.
They are the 76,000-dwt Huashan, Huangshan (built 2012), Lushan and Zhoushan (built 2013) all built at Zhejiang Yangfan Shipbuilding.
The fifth ship is the 58,000-dwt Taishan (built 2010) which was constructed at Tsuneishi Zhoushan.
Singapore incorporated SITC Shipowning is 62.5% owned by Yang Shaopeng who also controls the intra-Asia feedership operator with a 55.4%
