Vietnamese owner seals product tanker deal with CSSC Leasing

Asia Pacific Shipping Company, a new Vietnamese shipowner, has signed a sale and leaseback agreement with CSSC Leasing, selling two product tankers due for delivery in 2026 to the Chinese company for $105.3m.

Under the deal, the Vietnamese company, led by Nguyen Quynh Anh, will take the two newbuilds on bareboat charter for 10 years for a sum of $128.7m.

Founded three years ago in Hanoi, Asia Pacific Shipping is involved in shipowning, chartering and shipmanagement, with a mixed fleet of 22 vessels on its books.