Xingtong Shipping to Sell Oil Tanker for $28 Million

MT Newswires Live

5 hours ago

Xingtong Shipping (SHA:603209) agreed to sell its 2011-built oil tanker Xing Tong 799 to Maritime Global Shipping for $27.7 million, according to a Monday filing.

The 49,962-deadweight-ton vessel, which transports refined petroleum products domestically and internationally, had a net book value of 108.1 million yuan as of June 30.

The company said the sale will help optimize its fleet structure and free up funds for higher-specification green vessels.

Delivery is expected between Sept. 15 and Oct. 31.

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