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Issue #589

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New York Ports

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China Shipping Development Co., Ltd Announces Sale Of Tankers To China Shipping Haisheng Co., Ltd.

By: | at 07:00 PM | Breakbulk & Projects  

China Shipping Haisheng Co., Ltd: China Shipping Development Co., Ltd announced that on December 27, 2007, Shipping Development Co., Ltd entered into the sale and purchase agreement with China Shipping Haisheng Co., Ltd. China Shipping Haisheng, pursuant to which Shipping Development Co., Ltd has agreed to sell the tankers to China Shipping Haisheng at a total consideration of RMB69,638,133 (approximately HKD74,265,000). The consideration shall be payable within three business days after the signing of the sale and purchase agreement. The tankers will be delivered to China Shipping Haisheng in Shanghai or Guangzhou Port in China on or before December 31, 2007 and January 25, 2008, respectively. (Reuters)