China’s largest line, Zhonggy Logistics, will cash in $69 million through the sale of a quartet of Panamax vessels, mainly to Marseille-based carrier, CMA CGM.
Although the French line’s name was not disclosed, it’s no secret that CMA CGM has been chartering the following vessels: Zhong Gu Guang Dong, Zhong Gu Guang Xi, Zhong Gu He Bei and Zhong Gu Zhe Jiang.
The first two vessels were built in 2008 and the latter two in 2005 and 2004 respectively.
Daily charter fees for the vessels are said to be in the region of $37-38 000.
The total sale amount is estimated to be between $128 and $135 million.
MSC has also been mentioned as a buyer, but this could not be confirmed.
It has also been reported that Zhonggu initially bought the vessels for $30 million, but thanks to excellent freight recovery, the assets have appreciated significantly.
As a result, it expects net profit of $69 million through selling the vessels.
