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China Shipping Signs Seven Vessel Lease for $11.5 Million

Maritime Activity Reports, Inc.

June 1, 2001

China Shipping Development Co Ltd said on Friday that it would lease seven vessels for one-year for a total of US$11.57 million.

China Shipping would lease a chartered oil tanker from Shanghai Shipping for $3.2 million, and six dry bulk cargo vessels for US$8.3 million from Southern Shipping, a company statement said.

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