COSCO Shipping Energy Transportation (HKG:1138, SHA:600026) said its Future Ocean unit agreed to lease two gas carriers from Singapore's Seaspan Corp. for a period of 20 years, according to a Tuesday filing with the Hong Kong bourse.
The Chinese shipping company's Hong Kong-listed shares fell over 4% in late morning trade Wednesday.
The firm will pay a fixed rental amount of 3.40 billion yuan for the lease.
The new carriers will help optimize and upgrade the company's business structure, COSCO Shipping said.
Meanwhile, in a separate announcement, the firm said it agreed to guarantee the borrowings of several of its subsidiaries.
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