Finance and InsuranceGreater China

Cosco Shipping Leasing secures $289m loan

Cosco Shipping Development has announced that subsidiary Cosco Shipping Leasing has secured RMB2bn ($289m) worth of loans from China Bohai Bank and Bank of Nanjing.

Bohai Bank will provide a one-year RMB500m loan and a three-year RMB1bn loan to Cosco Shipping Development, while Bank of Nanjing will provide RMB500m loan with maturity of one year.

This week, Cosco Shipping Development, the ship leasing and financing unit of China Cosco Shipping Corporation, entered into a 10-year sale and leaseback agreement with LNG carrier operator Golar LNG.

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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