Värde and Landbridge Inks VLCC Sale and Lease Back Deal

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Global alternative investment firm Värde Partners and Landbridge VLCC International, has announced a sale and lease back transaction of a very large crude carrier (VLCC), says an article published in Deal street Asia.

What is in the deal?

The sale of the modern, fuel-efficient tanker built in 2016, was arranged by Pareto Securities.

Following the deal, Landbridge will continue to operate the  Landbridge Prosperity vessel under a bareboat charter, before repurchasing the vessel at the conclusion of the charter period.

According to Landbridge Group CEO Vincent Lai, the transaction is a part of its scrubber retrofitting programme for its entire fleet.

About Landbridge Group

Landbridge Group is a diversified multinational group of companies based in China, specialised in port infrastructure and logistics, oil and gas, shipping and petrochemical industries.

Värde Partners Outlook

Värde Partners is a $14-billion global alternative investment firm that is investing across a broad array of geographies, segments and asset types.

Its managing director Stephen Seymour said, “This transaction underscores our objective to become a leading provider of alternative finance to the sector by building long-term partnerships with reputable maritime companies and shipowners.”

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Source: Dealstreetasia

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