AsiaFinance and Insurance

Japan’s Orix outlines plans to become major ship finance player

Japan’s Orix Corporation has confirmed it has acquired $289m worth of shipping loans from the Royal Bank of Scotland (RBS), and has outlined plans to expand further into ship finance.

Orix’s ship finance history dates back to the 1960s. It also founded Perseus Shipping in 1977, which now trades as as Orix Maritime Corporation and operates a sizeable fleet.

In a statement the company said: “Orix views these current market conditions as a favorable investment opportunity and therefore Orix aims to increase activity in investment grade shipping-related loans held primarily in Europe (such as those involved in the current acquisition), as well as to expand its business operations in the shipping sector while developing greater client trust and confidence.”

RBS has been looking for a long time to wind down its once market-leading position in ship finance as it restructures following near bankruptcy during the global financial crisis.

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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