[Photo: Hong Kong Maritime Hub]
Two of Hong Kong’s most high profile maritime personalities have joined forces to create a home-grown ship leasing firm.
The latest ship leasing firm in Hong Kong is to be led by Kenneth Lam and Sabrina Chao, the co-founders of SeaKapital Limited. Mr Lam who has recently departed a nearly 33-year career at Credit Agricole Corporate and Investment Bank where he was head of shipping and offshore in Asia, as well as CEO at Credit Agricole Asia Shipfinance, will debut as CEO at the new venture.
Ms Chao, who is currently president of BIMCO and was previously executive chairman of Wah Kwong Transportation Holdings, has taken the post of chairman at SeaKapital.
Mr Lam recently revealed on his Linkedin page:
“Through Ship Leasing, SeaKapital is to provide LT sustainable and responsible capital to the most essential and capital intensive part of Shipping. 90% of all international trades are seaborne; the international ocean-going fleet of about 60,000 vessels is worth approx. US$1.4trn with approx. another US$300bn of newbuildings on order and that has yet taken into account the upcoming fleet renewal under decarbonisation or other ESG initiatives. Shipping is a necessity and finding the LT capital for likeminded owners and players will be SeaKapital’s objective.
“SeaKapital will source its capital internationally, from a large pool of investors. SeaKapital will also work with shipping banks and other capital providers to find comprehensive solutions for the industry.
“SeaKapital is an international company based in Hong Kong. HK is chosen because of its friendly jurisdiction and its deep understanding of the international legal, tax and regulatory environment for Shipping and Shipowning. The HK Ship Leasing Bill enacted in 2020 is among the legislations that will provide stability to SeaKapital. Hong Kong is an interntional finance, shipping and trade centre, as repeatedly emphasised in China’s 13th and 14th Five-Year Plans.”
“SeaKapital will source its capital internationally, from a large pool of investors. SeaKapital will also work with shipping banks and other capital providers to find comprehensive solutions for the industry.
“SeaKapital is an international company based in Hong Kong. HK is chosen because of its friendly jurisdiction and its deep understanding of the international legal, tax and regulatory environment for Shipping and Shipowning. The HK Ship Leasing Bill enacted in 2020 is among the legislations that will provide stability to SeaKapital. Hong Kong is an interntional finance, shipping and trade centre, as repeatedly emphasised in China’s 13th and 14th Five-Year Plans.”
In citing the Hong Kong Ship Leasing Bill Mr Lam is referring to the favourable tax regime introduced by the Hong Kong Government which affords half-rate corporate tax of 8.25% for ship leasing firms or in certain circumstances a nil rate of tax.
Source: Hong Kong Maritime Hub
Source: Hong Kong Maritime Hub
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