Trafigura sells five tankers to CDB Leasing in $140 million deal

Switzerland-based commodity trading company Trafigura has decided to sell five MR tankers to Hong Kong leasing major China Development Bank Financial Leasing (CDB Leasing).

As informed, the agreement between the two parties was signed on 3 December 2021. The total value of the contract is $140 million. The leasing major noted that the purchase will be financed from the company’s own funds, which might be combined with commercial loans.

Moreover, CDB Leasing signed the agreement to increase the company’s market share in the shipping industry and the deal is in line with the company’s business development strategy.

Further details of the contract were not disclosed.

In June this year, CDB Leasing ordered ten MR product tankers. The vessels in question are 50,000 dwt oil/chemical tankers which are to be built at Jiangsu New Times Shipbuilding in accordance with the ship purchase agreement.

The company entered the global tanker market last year, purchasing 14 product tankers for a total of $422 million from Maersk Product Tankers.