Bank Of Communications Financial Leasing News

Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing). As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt. The sales price for each vessel is $27.5 million, and the Company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel. The Company also has three one-year options to extend the bareboat charter agreements beyond the initial term. In addition, Scorpio Tankers has purchase options beginning at the end of the fifth year and until the end of the agreements.

Scorpio Tankers sold and leased back, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto to Bank of Communications Financial Leasing in April 2017. The sales price was $29 million per vessel and the company bareboat chartered-in the vessels for a period of up to eight years at $8,800 per day per vessel. The international provider in the transportation for refined petroleum products has the option to purchase these vessels beginning at the end of the fifth year of the agreements through the end of the eighth year of the agreements. Additionally, a deposit of $4.35 million per vessel was retained by the buyers and will either be applied to the purchase price of the vessel if a purchase option is exercised…

Trafigura has sold five oil vessels to a unit of China's Bank of Communications , ending the trading house's move into owning tankers, the company said on Friday. Under the deal, the five medium-range tankers, ordered by Trafigura in 2013 from a shipyard in China, were sold to Bank of Communications Financial Leasing Company Ltd and subsequently leased back to the Swiss trading house. Financial terms were not disclosed. "The ships were bought at low entry levels and we saw an opportunity to sell now. While we have a significantly growing cargo programme it is not a must for us also to own the steel," Trafigura global head of wet freight Rasmus Bach Nielsen said in a statement.

Navig8 Chemical Tankers has signed sale and leaseback agreements with China's Bank of Communications Financial Leasing (BCFL) for a quartet of medium range tankers. The  for four 49,000 DWT Interline coated medium range tankers being built at STX Offshore & Shipbuilding Co., Ltd, Korea (STX). The four vessels from STX  have contractual delivery dates ranging from end March 2017 to end June 2017. Under the sale and leaseback agreements, BCFL will provide funding for pre-delivery as well as the delivery instalments for the STX Vessels. The net proceeds from the transaction (after a 12% sellers' credit) will be USD 140,025,600. The STX Vessels will be delivered to BCFL on their respective deliveries from STX.

Evergas’ latest addition to its fleet, the 4 th ‘dragon class’ 27.500 cbm multigas LNG carrier in a series of eight was successfully named today the 28th of January, at a ceremony at the Sinopacific Offshore & Engineering (SOE) shipyard in Qidong, China. The state-of-the-art carrier was named JS INEOS INSPIRATION. The vessel bear a distinct dragon symbolizing its Chinese and Western heritage. The dragon chosen to sail and protect JS INEOS INSPIRATION is the King of Earth, reflecting patience, thoughtfulness and stability for the future ahead. The ‘Dragon’ class vessels are the largest, most flexible and advanced multigas carriers built to date.

The past week has been another active one, reports Clarkson Hellas S+P Weekly Report, with notable levels of ordering across all sectors. In Dry and whilst understood to have been contracted earlier this year, Clients of Polaris Shipping are reported to have signed three firm 250,000 DWT VLOCs as well as a single 207,000 DWT Newcastlemax at Hyundai Heavy Industries. These will be built at their Samho facility and whilst final pricing is yet to be disclosed, delivery is expected from the third quarter of 2014 and will continue through to early 2015. Parakou Shipping were reported to have contracted four firm SDARI designed 64,000 DWT Ultramax with a further four plus four options attached at Chengxi Shipyard.