ICBC Leasing adds 10 more ships

Frontline, a shipping company owned by John Fredriksen, recently completed the acquisition of 10 Suez tankers in Trafigura.
 
This batch of Suez tankers has signed a sale and chartering contract with ICBC Leasing, with a total value of $ 544 million. The term of the financial chartering is 7 years, and the interest rate is LIBOR plus 2.3%.
 
The focus business of ICBC Leasing includes US $ 600 million in new shipbuilding projects for tankers and bulk carriers. ICBC Leasing's existing ship assets (excluding offshore) are expected to reach US $ 10 billion.
 
Source:Sarah Yu,XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.