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ICBC Leasing acquires newbuild LR2 tanker from Andromeda Shipping

Photo of Jason Jiang Jason JiangJuly 3, 2020
880 Less than a minute

Chinese leasing house ICBC Financial Leasing has acquired the 114,000 dwt LR2 tanker Lake Star from Monaco-based owner Andromeda Shipping.

According to VesselsValue data, the vessel was originally ordered by ClearOcean Tankers at South Korean shipyard Daehan in 2018 and it was resold to Andromeda Shipping last year for a price of $50m. The vessel was just delivered by the yard in June.

The latest sale is believed to be part of a financial leasing arrangement, although the details of the deal were not disclosed.

Ship registration information shows the owner of the ship is now Hai Kuo Shipping 2008T, a special purpose vehicle set up by ICBC Leasing.

The vessel commenced a seven-year charter contract with Singapore’s Clearlake Shipping on June 30.

Photo of Jason Jiang Jason JiangJuly 3, 2020
880 Less than a minute
Photo of Jason Jiang

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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