Al Seer Marine, a subsidiary of International Holding Company, has secured $80 million in financing from BOCOM Financial Leasing, a subsidiary of the Bank of Communications, one of China’s largest commercial banks, for its newly delivered MR tankers Betelgeuse and Bellatrix, reports offshore energy.
First collaboration
As informed, this agreement marks the first collaboration between Al Seer Marine and BOCOM Leasing, establishing a new partnership in the maritime industry.
The two tankers have been built ready for alternative fuels such as liquefied natural gas (LNG), ammonia, and methanol, to ensure compliance with the latest environmental regulations, according to the company.
Al Seer Marine noted that this transaction represents the first financing that the firm has secured for its shipping fleet from outside the UAE.
Meanwhile, in March this year, Al Seer Marine reported that, together with Swiss energy company BGN, it received funding from several banks located in the Gulf region to support the construction of three very large gas carriers (VLGCs) in South Korea and Japan.
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Source: Offshore Energy
