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China Construction Bank News

31 Jul 2020

Trafigura Offers COVID-19 Premium

(Photo: Trafigura)

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia, if not globally, and could set a precedent for other price-sensitive borrowers looking to limit the long-term effects of the pandemic on their funding costs.Without the Covid premiums, the terms of Trafigura's new deal are little…

28 Aug 2019

China Bank Supports Hoegh LNG for New FRSU

Hoegh LNG on its first ever sale and leaseback deal with China Construction Bank Financial Leasing (CCBFL) for its tenth Floating Storage Regasification Unit (FSRU), the Hoegh Galleon, which was delivered yesterday (August 27) and has been taken back on charter by Hoegh LNG for twelve years.Following the completion of the transaction, Hoegh LNG is now fully funded with both equity and debt for its current newbuilding program, which will be completed with the delivery of Hoegh Galleon in August 2019.The Hoegh Galleon has been employed on an 18-months interim LNGC time charter with Cheniere before its intended long-term charter with AIE in Australia…

16 Jan 2019

WFW Advises CCBL on Sale, Leaseback of Two VLCCs

The international law firm based in London Watson Farley & Williams (WFW) has advised CCB Financial Leasing Co., Ltd. (CCBL) on a US$132.8m sale and leaseback transaction of two tanker vessels (VLCC) acquired from and chartered back to two subsidiaries of Globe Shipholding S.A.Globe Shipholding is maintaining a fleet of crude carrier tankers managed by Almi Tankers S.A..CCBL’s transaction with Globe represents the first completed sale and leaseback of VLCCs in the Chinese leasing community. US$132.8m was drawn by Globe under the sale and eight-year capital lease back transaction which was put to various uses including the refinancing of certain bank loans secured on the two tankers.Founded in 2007…

04 Sep 2018

Höegh LNG Secures FSRU Debt Financing

(File photo: Höegh LNG)

Höegh LNG Holdings Ltd. said it has received commitment letter for a sale and leaseback financing for another floating storage and regasification unit (FSRU) of up to $206 million. FSRU #10 is currently under construction at Samsung Heavy Industries in South Korea, and is scheduled for delivery in the second quarter of 2019.The facility is provided by CCB Financial Leasing Co. Ltd. (CCBFL), a wholly owned subsidiary of China Construction Bank (CCB), and is available to fund 70 percent of the delivered cost of the FSRU…

17 Jul 2014

China, Brazil Close Plane, Finance, Infrastructure Deals

China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and Dilma Rousseff, the two nations agreed to join forces to build railways to help Brazil cut its infrastructure deficit and feed China's appetite for commodities. Trade between China and Brazil soared to $83.3 billion last year from $3.2 billion in 2002, with iron ore, soy and oil making up the bulk of Brazilian exports, making China the South American nation's biggest trade partner.

07 Apr 2014

Deadbeat Chinese Shipyards Stick Banks with Default Bill

Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time. One in three ships ordered from Chinese builders was behind schedule in 2013, according to data from Clarksons Research, a UK-based shipping intelligence firm. Although that was an improvement from 36 percent a year earlier, it was well behind rival South Korea, where shipyards routinely delivered ahead of schedule the same year. That means Chinese banks may be on the hook to pay large sums to buyers if the yards can't come through per contract, with little hope of recouping the cash from the yards.

03 Oct 2012

Key Maritime Insights Offered at Shanghai Forum

The International Shipping Strategic Development Forum met in Shanghai for wide-ranging discusion on the shipping industry. With high profile support from the Lord Mayor of London David Wooton who opened the forum, the event was attended by 450 and brought together some of the UK’s leading maritime professionals and China’s shipowners and charterers. Economic outlook: Standard Chartered China Chief Economist Shen Lan gave a modest assessment on global economic outlook. She predicts China’s economy will grow 7.7% in 2012 and slightly pick up to 7.8% in 2013, while US’ growth remains soft and European economy’s main risk is to the downside.

02 Oct 2012

UK Cements Chinese Maritime Ties

3rd International Shipping Strategic Development Forum

The UK’s £2bn maritime services sector cemented its ties with China’s shipping industry at the 3rd International Shipping Strategic Development Forum in Shanghai organised by the trade promotional body Maritime London (21 Sept). With high profile support from the Lord Mayor of London David Wooton who opened the forum, the event was attended by 450 and brought together some of the UK’s leading maritime professionals and China’s shipowners and charterers. Lord Mayor David Wooton…

09 Jan 2008

Financial IUpdate on Asia and China

According to Bloomberg.com, Asian stocks rose for the first time in four days, led by financial shares, after China Merchants Bank Co. doubled its profit and Citic Securities Co. said net income jumped more than fivefold. China Construction Bank Corp. climbed the most in two weeks in Hong Kong. Fubon Financial Holding Co. led Taiwanese financial companies higher after the Economic Daily News reported they may be allowed to buy stakes in China's banks. Reliance Industries Ltd. paced gains among energy shares after saying it may join rivals to seek oil in India. The MSCI Asia Pacific Index added 0.1 percent to 153.10 as of 7:17 p.m. in Tokyo, following a three-day, 3.4 percent drop. About six stocks climbed for every five that retreated.