Moby’s ropaxes sold on a leaseback basis

2023-05-26T19:05:29+00:00 May 26th, 2023|Finance|

CSSC (Hong Kong) Shipping Co has confirmed that that on 10th May, 2023 a sale & lease back agreement was signed with Italian ferry group Fratelli Onorato Armatori.

This involves Moby Lines’ recently built ferries ‘Moby Fantasy’ and ‘Moby Legacy’.

‘Moby Fantasy’ was delivered from CSSC Marine & Offshore, formerly Guangzhou shipyard, this month and is now en route to Italy, while ‘Moby Legacy’ is expected to be delivered by August, 2023.

The Hong Kong Stock Exchange statement read – ‘The Board (CSSC Shipping) is pleased to announce that, on 10th May, 2023, Fortune Ropax I and Fortune Ropax II, being the company’s wholly-owned SPVs, have entered into the Memorandums of Agreement and the bareboat charters with, among others, the charterer, pursuant to which Fortune Ropax I and Fortune Ropax II have agreed to (i) purchase the vessels from the charterer at the consideration; and (ii) lease back the vessels to the charterer at a total estimated charterhire to be payable by the charterer of around €241,403,000 (including estimated lease interest of about €85,403,000.’