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China LNG shipping project raises $787m in financing

CNOOC Energy Technology & Service, Teekay LNG Partners, China LNG Shipping (Holdings) Limited and BW Gas have raised $787m to part finance the four LNG carriers.

Marcus Hand, Editor

July 25, 2014

1 Min Read
Kalyakan - stock.adobe.com

The 174,000 cu m vessels are to be built by Hudong-Zhonghua and will be long-term chartered to BG as part of its shipping fleet.

Australia and New Zealand Banking Group (ANZ) and The Export-Import Bank of China (China Exim) acted as joint financial advisors, to the four companies and charter BG. The financing comprises 50% export credit agency financing from China Exim and 50% commercial loans with a tenor of 17 years.

Mandated lead arrangers for the financing are ANZ, Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ Ltd, China Exim, Mizuho Bank Ltd, Sumitomo Mitsui Banking Corporation and Industrial and Commercial Bank of China.

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About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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