Finance and InsuranceGreater China

Cosco Shipping Leasing applies for more funding

Cosco Shipping Development has announced that its subsidiary Cosco Shipping Leasing plans to apply for a RMB400m ($56m) credit facility from Bank of Beijing.

The facility will be used to support business development and increase liquidity for the company.

Cosco Shipping Leasing is the financial leasing unit of Cosco, and currently owns a fleet of 29 ships.

According to Cosco Shipping Development, Cosco Shipping Leasing’s asset debt ratio currently stands at 85.8% with total debt amounting to RMB30.5bn ($4.3bn).

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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