Summary by Futu AI
ooil announced on October 22, 2024, that its indirectly wholly-owned subsidiary, OOIL Container Shipping, and six newly built container ships of Seaspan's subsidiary have signed charter agreements. The lease contract is for a duration of 15 years, with the possibility of extension or reduction by up to 30 days. Delivery is expected to be in batches from the fourth quarter of 2026 to the first quarter of 2028. The total rent amount can reach up to approximately 11.2 billion Chinese yuan. In accordance with Hong Kong Financial Reporting Standard 16 "Leases," this transaction will be treated as an asset acquisition, requiring the recognition of the value of the right-of-use assets in the company's consolidated financial statements, initially estimated at 916.3 million US dollars. The transaction aligns with the company's development plan to enhance fleet capacity, consolidate its position in the industry, and drive global expansion. The board of directors considers the charter contract terms and conditions to be fair and reasonable, serving the overall interests of the company and shareholders.