CHINA Shipping Container Lines (CSCL) recently announced plans to sell 20 per cent of its containers to Hong Kong-based CLC Maritime Container Leasing Co and will then lease them back to strengthen its financial position.
The Hong Kong and Shanghai-listed CSCL said in a statement it has agreed to sell 139,941 containers that have been in use for between three and six years to CLC Maritime Container Leasing Co for US$358.6 million and will then lease the boxes back for $221.27 million for a term of four years.
The world's ninth largest carrier said this deal will contribute to a gain of $112 million. CSCL posted a third-quarter net profit of CNY991 million (US$159 million), reversing a net of loss of CNY951.23 million recorded in the same period last year.
The Hong Kong and Shanghai-listed CSCL said in a statement it has agreed to sell 139,941 containers that have been in use for between three and six years to CLC Maritime Container Leasing Co for US$358.6 million and will then lease the boxes back for $221.27 million for a term of four years.
The world's ninth largest carrier said this deal will contribute to a gain of $112 million. CSCL posted a third-quarter net profit of CNY991 million (US$159 million), reversing a net of loss of CNY951.23 million recorded in the same period last year.
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