Jaccar Holdings secures $900m financing deal from ICBC Leasing

Jaccar Holdings secures $900m financing deal from ICBC Leasing

Shanghai: Jacques de Chateauvieux-led Jaccar Holdings signed a financing deal worth $900m with ICBC Leasing yesterday to fund the construction of eight gas carriers. The signing of the deal was witnessed by Chinese Prime Minister Li Keqiang and French Prime Minister Manuel Valls.

The eight vessel are made up of five VLECs and three multi-purpose gas carriers, all to be built at China’s Sinopacific Shipbuilding. Jaccar Holdings and Hartmann Group establish a joint venture for the commercial management of ethane carriers in 2014, ordering five VLECs with a capacity of 85,000 cu m each. Jaccar-owned Evergas ordered three 27,000 cu m multi-purpose gas carriers in March 2014 that due for delivery this year.

The Jaccar deal is the second ship financing deal ICBC signed during Li Keqiang’s visit to Europe, following a $200m signing with Belgium’s Seatrade Group for the financing of seven reefer containerships, which will also be built at Chinese yards.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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