Shipping pacts signed

PUBLISHED : Thursday, 28 May, 1998, 12:00am
UPDATED : Thursday, 28 May, 1998, 12:00am

China Shipping Development has clinched two vessel management deals with parent China Shipping (Group).

Under the agreements, the H share would provide management services to the 15 dry bulk cargo vessels owned by Dalian Shipping and 52 owned by Guangzhou Maritime and five dry bulk cargo vessels that are subject to finance leases under which Guangzhou Maritime is the lessee. The agreements will take effect from June 1.

The management fee between June 1 to December 31 will be 8.25 million yuan (about HK$7.67 million).