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MOL signs first deal with Chinese leasing companyMOL signs first deal with Chinese leasing company

Mitsui O.S.K. Lines Ltd. (MOL) has entered into a lease agreement covering three LNG carriers under construction in China.

Gary Howard, Middle East correspondent

June 29, 2023

1 Min Read
Representatives of BOCOM, CNOOC, COSCO and MOL in front of a banner withing chinese and english writing about the lease deal
MOL

MOL said the deal is its first contract with a Chinese leasing company.

The lease agreement covers three LNG carriers under construction at Hudong-Zhonghua Shipbuilding and was signed with Bank of Communications Financial Leasing (BOCOM Leasing), a subsidiary of Bank of Communications Co and the largest Chinese leasing company.

The deal was struck through a joint venture with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd., CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd., and CETS Investment Management (HK) Co., Limited.

MOL said the new agreement represented an expansion and diversification of its funding sources and methods in a bid to improve competitiveness. MOL used a local financial institution in collaboration with a Chinese partner, it added.

About the Author

Gary Howard

Gary Howard

Middle East correspondent

Gary Howard is the Middle East Correspondent for Seatrade Maritime News and has written for Seatrade Cruise, Seatrade Maritime Review and was News Editor at Lloyd’s List. Gary’s maritime career started after catching the shipping bug during a research assignment for the offshore industry. Working out of Seatrade's head office in the UK, he also produces and contributes to conference programmes for Seatrade events including CMA Shipping, Seatrade Maritime Logistics Middle East and Marintec. 

Gary’s favourite topics within the maritime industry are decarbonisation and wind-assisted propulsion; he particularly enjoys reporting from industry events.

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

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