on VLOC project
A new type of collaboration on a long-term project in maritime finance
20 December 2018
ICBC Leasing and China Merchants Energy Shipping held a signing ceremony for a cooperation agreement on a VLOC project, tightening the overall collaboration in the shipping industry with a framework agreement at the same time.
According to the agreement signed in Beijing on May 30th, the energy transportation unit of China Merchants Group joins 4+10 VLOC project of ICBC Leasing via an offshore investment vehicle. ICBC Leasing inked COA with VALE, the world’s largest iron ore producer, in April this year.
Cooperation with China Merchants is set to reduce operational risks benefiting from both companies’ professional expertise in maritime management.
With this project, ICBC Leasing and China Merchants agreed to establish a comprehensive business partnership in shipping and related industries to further strengthen China maritime finance offerings.
ICBC Leasing, press release
Image by ICBC Leasing