News / ASL boosts owned fleet with four box ships in CSSC deal

Credit Wuchang Shipbuilding Industry Group.

Intra-Asia carrier Asean Seas Line (ASL) is continuing to grow its owned fleet with the company emerging as buyer for four 1,100 teu ships that China State Shipbuilding Corp’s leasing unit, CSSC Shipping, commissioned at affiliated yard Wuchang Shipbuilding Industry Group last week.

CA Shipping, the Hong Kong-incorporated special-purpose vehicle that ordered the ships, is a 60:40 joint-venture between CSSC Shipping and ASL’s holding company, ASL Shipping. CSSC Shipping’s stake is held indirectly through subsidiary Fortune Container Carriers.

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