SITC International Holdings' (HKG:1308) subsidiary SITC Steamships (HAI NAN) agreed to sell a vessel built in 2007 to Qingdao SITC's subsidiary SITC Steamship's Co. for $5.5 million, a Tuesday filing with the Hong Kong Exchange said.
The vessel, named Hai Feng Hai Kou, has a capacity of 907 twenty-foot equivalent unit container with a dead-weight tonnage of 12,628 tons. It will be replace the vessel currently being used by the purchaser on the Taiwan route.
The group expects to make a gain of $642,521 from the disposal and plans to use the proceeds for its general working capital.
The shipping logistics company's shares were up nearly 3% in recent trade.
Price (HKD): $19.90, Change: $+0.54, Percent Change: +2.79%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.