Minsheng looks to enlarge ship financing value by 10-15% in 2017Minsheng looks to enlarge ship financing value by 10-15% in 2017

Minsheng has so far this year approved around five to six deals worth a combined $1.3-1.4bn, and has released approximately $1bn of approved funds.

“We are looking at a 10-15% increase if possible in the value of our deals for next year,” Jerry Yang, chief marketing officer of Minsheng, told Seatrade Maritime News at the sidelines of the Marine Money conference held in Singapore on Wednesday.

“In terms of the number of transaction it has become less but each transaction is quite sizable,” Yang said.

He shared that the leasing institution is focused on larger containerships, LNG/LPG carriers and the higher value ships. “Forget about dry,” Yang said.

While Yang noted that the market is tough, it is still the right time for Minsheng to step up and market its services globally during this period when owners are short of cash.

“When the industry was healthy, the Western banks had dominated the market and owners back then were not willing to work with new players like ourselves,” he recalled.

Yang affirmed that Minsheng is committed to enter the shipping industry with readily available funds, and will be here for the long term.