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ICBC Leasing, China Merchants join forces
on VLOC project

May 30th, Beijing

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A new type of collaboration on a long-term project
in maritime finance.

ICBC Leasing and China Merchants Energy Shipping held a signing ceremony for cooperation agreement on VLOC project, tightening the overall collaboration in the shipping industry with framework agreement at the same time.

According to the agreement signed in Beijing on May 30th, energy transportation unit of China Merchants Group joins 4+10 VLOC project of ICBC Leasing via offshore investment vehicle. ICBC Leasing inked COA with VALE, the world’s largest iron ore producer, in April this year. Cooperation with China Merchants is set to reduce operational risks benefiting from both companies’ professional expertise in maritime management.

With this project, ICBC Leasing and China Merchants agreed to establish a comprehensive business partnership in shipping and related industries to further strengthen China maritime finance offerings.