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CSIC to launch leasing unit next year

China Shipbuilding Industry Corporation (CSIC), the northern Chinese state-run shipbuilding conglomerate, will launch a financial leasing unit next year.

“Having a ship financial leasing company will help us increase our share of global orders,” Sun Bo, president of state-owned CSIC, told delegates attending the Senior Maritime Forum at Marintec China on Tuesday.

“It will also allow us to build ship types that we have never built before, enabling us to enter new international markets,” he said.

China’s ship leasing firms have rapidly built up a dominant position in the world during the downturn, something covered by Splash columnist Dagfinn Lunde yesterday.

CSIC’s main rival, China State Shipbuilding Corporation (CSSC), launched its financial leasing unit in 2012.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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