LC Logistics Unit Enters Bareboat Charter to Lease Vessel; Shares Surge 6%

MT Newswires Live

06/04

LC Logistics (HKG:2490) unit BAL Athena Shipping entered into a bareboat charter to lease a vessel from Tianjin Green Ocean-V Leasing for 120 months, with a requirement to buy it at the end of the period, according to a Wednesday filing with the Hong Kong bourse.

Shares of the logistics company were up over 6% in Thursday afternoon trading.

At the same time, another unit Bal Container Line agreed to assign the shipbuilding agreement for the 14,000 TEU container vessel to Tianjin Green Ocean-V Leasing, with the consideration comprising the third and fourth installments.

LC Logistics will be the standby charterer under the deal.

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