Under the deal, Ciner Shipping will sell the two vessels to CSSC Shipping and charter them back at a total charter expense of $126.95 m with an annual lease value of $29.46 m for a duration of ten years. Hyundai Heavy Industries are expected to deliver the vessels, Ayse C and Zeynep, this month.

Meanwhile, CSSC Shipping has signed an agreement with a bank to borrow $48.26m to fund the vessels' purchase costs. The loan is to be entirely repaid within one year.

Maritime Business World