Navig8 Chemical Tankers Inc. has entered into a sale and leaseback agreement with China’s ICBC Financial Leasing for four 37,000-dwt product tankers.
While the there is an inherent attraction to order megavessel newbuildings in the current financing and market environment, it is still unclear as to how they benefit the lines.
BP has partnered with Kmarin and ICBC Leasing to invest over $1bn in six LNG carriers.
The High Court of Singapore has ordered the winding up of Lewek Champion Pte Ltd, wholly-owned by EMAS Offshore Limited (EOL), following a request made by Hai Jiang 1401, a special purpose vehicle fully owned by China’s ICBC Financial Leasing.
China’s banking regulator has thrown its weight behind the the rise of Chinese financial leasing institutions, and urged the lessors to actively support the shipping sector, according to a senior official with the bank overseer.
The depressed dry bulk shipping segment is becoming a potentially attractive investment choice for China’s ICBC Financial Leasing Co. However, the Chinese leasing bank is staying clear of the offshore sector.
A subsidiary of EMAS Offshore Limited (EOL), owned by bankrupt Ezra Holdings, is facing a winding up threat after it received a statutory demand from China’s ICBC Financial Leasing for the payment of around $195.02m relating to the termination of a bareboat charter.
BW Offshore and ICBC Financial Leasing have signed a cooperation agreement on Friday to jointly pursue large international infrastructure projects with a focus on FPSOs.