SITC International Holdings' (HKG:1308) subsidiary SITC Steamships (HAI NAN) agreed to sell a vessel built in 2007 to Qingdao SITC's subsidiary SITC Steamship's Co. for $5.5 million, a Tuesday filing with the Hong Kong Exchange said.

The vessel, named Hai Feng Hai Kou, has a capacity of 907 twenty-foot equivalent unit container with a dead-weight tonnage of 12,628 tons. It will be replace the vessel currently being used by the purchaser on the Taiwan route.

The group expects to make a gain of $642,521 from the disposal and plans to use the proceeds for its general working capital.

The shipping logistics company's shares were up nearly 3% in recent trade.

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