News Center Ship Sales & Purchase
Hot Keywords
Sinotrans Shipping Agrees to Sell VLCC at a Loss
Views(404)
Source:Eshiptrading.com

Sinotrans Shipping Ltd. (Sinotrans) announced Dec.31 that it agreed to sell a 2008-built VLCC named "Yangtze Friendship" at the cost of a loss of US$38.2 million, according to a domestic news report.

The crude carrier was purchased at a price of US$100 million in 2011 and will be sold to Enterprise Shipping, in which Sinotrans owns a 49 percent stake, for US$61.8 million.

The boat is expected to be delivered to the new owner in Feb.10 this year.

Sinotrans explained that it does not have expertise on operating tankers, considering the transaction as a disposal for the sake of both the company and its shareholders.

Sinotrans plans to use the proceeds from the transaction to replenish its working capital and acquire newbuilds in the future.

Sinotrans is primarily engaged in operating bulkers and boxships.

< Back to News Center< Ship Sales & Purchase
Latest Ship News
Hottest Ships
Ship Type
Class
Built Year
Built Place
Trail Suction Hopper Dredger
ZC
2006 Built
China
Container
ZC
2000 Built
China
Trail Suction Hopper Dredger
CCS
2013 Built
China
Grab Dredger
ZC
1994 Built
China
Pontoon
ZC
2011 Built
China
Home About Us Contact Us Help Center Advertising

Copyright © 2006-2017 沪ICP备17049160号 Eshiptrading.com All Rights Reserved