MOL Concludes 1st LNG Carrier Lease With China’s Bank Of Communications Financial Leasing

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has entered into a lease agreement for three new LNG carriers under construction at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. with Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing) 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. BOCOM Leasing is a subsidiary of Bank of Communications Co., Ltd. and the largest leasing company in China, and this marks MOL’s first contract with a Chinese leasing company.

At the signing ceremony
At the signing ceremony. Image Credit: MOL.

In the “Regional Strategy” of the “BLUE ACTION 2035” management plan, MOL sets its sights on expanding business in emerging markets, including China.

This lease agreement was achieved with a local financial institution in collaboration with a Chinese partner, in line with MOL’s regional strategy. Through these initiatives, MOL will expand its funding sources and diversify its funding methods to strengthen its competitiveness, and it aims to realize a “regional strategy” while increasing its presence in China and other Asian markets.

Press Release

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Do you have info to share with us ? Suggest a correction

Latest Shipping News You Would Like:

Get the Latest Maritime News Delivered to Your Inbox!

Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.

Leave a Reply

Your email address will not be published. Required fields are marked *