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CDB Financial Leasing acquiring 14 vessels from Maersk Tankers Singapore

Photo: Marcus Hand maerskflag.jpg
China Development Bank (CDB) Financial Leasing is purchasing 14 product tankers from Maersk Tankers Singapore at a total cost of $422m.

CDB Financial Leasing is to acquire the 14 product tankers via its 14 wholly-owned special purpose companies incorporated in Hong Kong.

The vessel acquisition is beneficial to optimize the advantages of the parties and will increase the market share of the company in vessel market, said CDB Financial Leasing.

CDB Financial Leasing has been actively participating in vessel acquisition and leasing business this year. In the first half of 2020, the agreements to build 16 ships were signed and 9 ships were delivered for lease.

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