Mitsui O.S.K. Lines, Ltd. has announced the signing of a lease agreement with Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing) for three new LNG carriers currently being constructed by Hudong-Zhonghua Shipbuilding Co., Ltd,says an article published on Sea News.
Joint venture
This agreement is made possible through a joint venture involving COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd., CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. and CETS Investment Management (HK) Co., Limited.
Notably, this collaboration marks MOL’s inaugural contract with a Chinese leasing company, with BOCOM Leasing being the largest leasing company in China and a subsidiary of Bank of Communications Co., Ltd.
Local financial institution
As part of MOL’s “BLUE ACTION 2035” management plan, the company has outlined a regional strategy that includes expanding its business in emerging markets, with a specific focus on China. In accordance with this strategy, MOL has successfully secured the lease agreement through a partnership with a local financial institution and a Chinese collaborator.
These initiatives align with MOL’s objective to broaden its funding sources and adopt diverse funding methods, thereby enhancing its competitiveness. By pursuing this “regional strategy,” MOL aims to strengthen its presence not only in China but also in other Asian markets.
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Source: Seanews
