Gelonghui, May 20, 丨 China Ship Leasing (03877.HK) announced that on May 20, 2024, the company's wholly-owned special purpose companies Fortune CSASP I and Fortune CSASP II have signed a memorandum of agreement and bareboat leasing agreement with (among others) the lessee Asia Pacific Shipping Company. Based on this, Fortune CSASP I and Fortune CSASP II have agreed to (i) purchase a ship from the lessee at a cost ; and (ii) leasing back the ship to the lessee based on the estimated total rent payable by the charterer of approximately US$129 million.

The Memorandum of Agreement and Bareboat Leasing Agreement are concluded by Fortune CSASP I and Fortune CSASP II in the course of their general business. The directors believe that the conclusion of the Memorandum of Understanding and the Bareboat Leasing Agreement will strengthen the Group's leasing business and be in line with the Group's overall business development strategy.