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Evergreen Marine Corp Taiwan Unit Sells 12 Container Vessels; Shares Drop 5%

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Evergreen Marine Corp Taiwan (TPE:2603) subsidiary Greencompass Marine sold right-of-use assets covering 12 container vessels, according to a Thursday Taiwan Exchange filing.

Shares fell over 5% in Friday's afternoon trade.

The assets, linked to 1,900 TEU-class vessels with lease terms of 4.38 to 8.01 years, were reduced by about $173.6 million.

The transaction is expected to generate a lease modification gain of around $5 million, the filing said.

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