EuropeFinance and Insurance

Greig Star completes sale and leaseback of open hatch vessel

Norwegian open hatch and bulk carrier specialist Grieg Star has sold 2013-built open hatch vessel Star Louisiana to an undisclosed Japanese company today.

Grieg Star has chartered the vessel back for a period of 15 years, and has buyback options from year three onwards.

The company said that the sale and leaseback transaction will contribute to its financial strength by building up cash reserves.

The vessel will be reflagged to Marshall Islands at the request of the new owners.


Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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