COSCO Ship Energy's Wholly-Owned Unit Plans Bareboat Charter of 14 New VLCCs

Stock News11-09

COSCO Ship Energy (01138) announced that its wholly-owned subsidiary, Global Shipping, plans to bareboat charter a total of 14 new VLCCs from Bank of Communications Financial Leasing, ICBC Financial Leasing, Agricultural Bank of China Financial Leasing, Bank of China Financial Leasing, CITIC Financial Leasing, and Minsheng Financial Leasing, with charter terms not exceeding 20 years.

The total charter cost will not exceed RMB 17.4 billion.

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