China’s ICBC Leasing has inked financing deals worth USD1.1 billion with Belgium-based Seatrade and France-based Jaccar during Premier Li Keqiang’s visit to Europe.
The agreements with Seatrade and Jaccar were signed on 29 June and 2 July, respectively.
ICBC Leasing will extend USD200 million to Seatrade for the construction of seven full reefer container ships, while it will support Jaccar with USD900 million in loans to fund the construction eight gas carriers.
It is the first co-operation between Seatrade and Chinese yards, and the brand new ship type in the deal will help Chinese yards to improve their capacity, stated ICBC Leasing. The first ship is scheduled to be delivered at the beginning of 2016.
The eight vessels to be constructed by Jaccar comprise five very large ethane carriers (VLECs) and three multipurpose gas carriers, all to be built at China’s Sinopacific Shipbuilding.
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Jaccar and Hartmann’s joint venture ordered five 85,000 m³ VLECs in 2014. Jaccar-owned Evergas ordered three 27,000 m³ multipurpose gas carriers in March 2014 that are scheduled for delivery in 2015.
The two deals are important move to promote the ‘One Belt, One Road’ initiative, reported Chinese media.
ICBC Leasing stated that it will continue its co-operation with European shipping companies and provide support for exports of Chinese high-end manufacturing industries to Europe.
This post was sourced from IHS Maritime 360: View the original article here.
