China Navigation (CNCo) has signed a sale and leaseback deal with CDB Leasing for two modern handysize bulkers.
Shenzhen-based CDB Leasing is paying $19.5m each for the ships with a three-year bareboat charter back to CNCo, brokers said.
The two China-built ships are the 38,907-dwt Nanning and 40,064-dwt Ninghai (both built 2017).
Both of the vessels have been removed from the fleet list on CNCo’s website.
The sales prices are firmer than those seen in early January, when prices in the low $16ms were reported for two similar modern handys sold by CarVal Investors.
The 35,000 dwt North Star and Grand Marais (both built 2016) achieved $16.2m each, according to brokers.
CNCo’s sale-and-leaseback with CDB Leasing follows Monday’s news that the Singapore-based owner is to acquire Hamburg Sud’s bulk shipping business.
James Woodrow, managing director of CNCo, said the acquisition would help his company develop its strategic expansion into the supramax/ultramax segment.
Hamburg Sud’s chartered fleet of bulkers comprises approximately 45 vessels, ranging from handysize up to panamax tonnage.
CNCo’s 27-vessel bulk carrier fleet currently comprises purely of handysizes, of which roughly half are open hatch.
