Asia Pacific Shipping Company， a new Vietnamese shipowner， has signed a sale and leaseback agreement with CSSC Leasing， selling two product tankers due for delivery in 2026 to the Chinese company for $105.3m.

Under the deal， the Vietnamese company， led by Nguyen Quynh Anh， will take the two newbuilds on bareboat charter for 10 years for a sum of $128.7m.

Founded three years ago in Hanoi， Asia Pacific Shipping is involved in shipowning， chartering and shipmanagement， with a mixed fleet of 22 vessels on its books.