Greater ChinaPorts and Logistics

Lianyungang inks financing deals with ICBC Leasing and Bocomm Leasing

Shanghai: Lianyungang Port Company has announced that it has signed financial leasing deals with ICBC Leasing and Bocomm Leasing to secure RMB400m in total.

According to the agreements, Lianyungang Port will sell some port equipment to ICBC Leasing and Bocomm Leasing under leaseback terms to get RMB250m and RMB150m respectively. Lianyungang Port will purchase the equipment back at a nominal price of RMB1 after a leasing period of 60 months.

In the meantime, Lianyungang Port announced that it has gained approval from China Securities Regulatory Commission (CSRC) to issue RMB645m worth of bonds.

Lianyungang Port reported a net profit of RMB101.6m for the year of 2014, a year-on-year drop of 36.49%.

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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