Landbridge seals VLCC sales  – Splash247

Hong Kong-based owner Landbridge has sealed a financial deal with compatriot owner CSSC Shipping, the shipowner vehicle of state-run China State Shipbuilding  Corp. 

Brokers note that Landbridge’s two Dalian Shipbuilding Industry Co-built ships, Landbridge Glory and Landbridge Horizon, have been sold for $102m each basis nine years and seven years bareboat back respectively at around  $29,500 per day with purchase options at the end. 

Last week busy Landbridge declared a purchase option on a VLCC, Landbridge Wisdom, currently on bareboat charter from John Fredriksen’s sale-and-leaseback specialist SFL Corp. 

Meanwhile, cash-rich CSSC Shipping is active in the secondhand market this year. VesselsValue’s sales register notes six sales both in wet and dry, by the over 100-ship strong player and more deals are in the pipeline. 

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