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OOIL to sell 8,063-TEU ship to Global Ship Lease for US$53.6 million
HONG KONG's Orient Overseas (International) Limited (OOIL) has entered into an agreement to sell an 11-year-old 8,063-TEU containership, the OOCL Ningbo, to New York-listed Global Ship Lease (GSL) for US$53.6 million on October 15.
Under the memorandum of agreement, Orient Overseas Container Line (UK) Limited, subsidiary of OOIL, will time-charter the vessel from GSL for a minimum term of 36 months and a maximum period of 39 months.
OOIL does not have the option to repurchase the containership during or at the end of the charter period, it announced to the Hong Kong Stock Exchange, reported Seatrade Maritime News.
The company can expect to gain around $800,000 from the sale, after discounting the vessel's net book value and related expenses. The company pointed out that the sale proceeds will be used for general working capital and potential business expansion.
Under the memorandum of agreement, Orient Overseas Container Line (UK) Limited, subsidiary of OOIL, will time-charter the vessel from GSL for a minimum term of 36 months and a maximum period of 39 months.
OOIL does not have the option to repurchase the containership during or at the end of the charter period, it announced to the Hong Kong Stock Exchange, reported Seatrade Maritime News.
The company can expect to gain around $800,000 from the sale, after discounting the vessel's net book value and related expenses. The company pointed out that the sale proceeds will be used for general working capital and potential business expansion.
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