Singamas Cont (00716.HK) announced that a wholly-owned subsidiary of the company has signed the first and the second financing rental agreements with the customer on May 16, 2023, and June 14, 2024, respectively. According to the first and second financing leasing agreements, the customer agreed to rent 10,000 and 15,000 containers respectively for a period of 14 years. The customer has the right to buy the products at the end of the lease term of the transaction.

The customer is the Mediterranean Shipping Company, a company registered under Swiss law, mainly engaged in global container transportation and logistics services.