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CSIC eyes financial leasing to expand business

CSIC eyes financial leasing to expand business
To expand its business China Shipbuilding Industry Corp (CSIC) is looking to expand into financial leasing.

Sun Bo, president of CSIC told the Marintec China 2015 Senior Maritime Forum that it planned to set up a leasing company for customers requiring to build high-end vessel designs such LNG carriers and cruise ships.

He added that if the shipbuilding group wants to go into new areas of business or territories it could use the leasing companies to provide new customers with financing.

While the shipbuilding is facing problems with overcapacity, even owners who want to order often struggle to get financing.

Martin Stopford, president of research for Clarksons Platou, speaking on the same panel, noted the development with interest. Commenting on the state of the shipbuilding market globally he said: “This is a very tough market place and comes down to how many ships you can build and have finance for them.”