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.”
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!