ICBC Financial Leasing's shipping division “trying to double the value within a year is quite a challenge”, said Yang Changkun, managing director of the commercial bank, which already controls more than 150 ships that it leases to shipowners, South China Morning Post reported.
Yang's comments followed closely a recent deal by French offshore firm Bourbon signing a $1.5bn sale and lease back agreement with ICBC Financial Leasing involving up to 51 ships.
ICBC Financial Leasing has not set a target for its fleet size. “We are trying to do more overseas business. We like to talk to any experienced shipowner,” Yang was quoted saying.
“We are also looking at the offshore market – the entry level is higher. We do have substantial support on the money side,” he added.
Meanwhile, the Export-Import Bank of China is anticipating a $2bn increase in loans to the shipping industry this year from around $12bn worth of deals inked in 2012, according to Chen Bin, deputy general manager, transport finance department, China Exim Bank.
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