Sabrina Chao and Kenneth Lam set up ship leasing vehicle in Hong Kong

Two of Hong Kong’s well-known shipping names have teamed up to establish a ship leasing firm.

Sabrina Chao, a seasoned shipowner and currently the president of BIMCO, has co-founded SeaKapital with Kenneth Lam, who up until recently headed up Credit Agricole Asia Shipfinance.

“Through ship leasing, SeaKapital is to provide LT sustainable and responsible capital to the most essential and capital intensive part of shipping,” said Lam, who will be the company’s CEO, while Chao will take the chairman seat.

SeaKapital will source its capital internationally, from a large pool of investors, Lam noted, adding that the company will also work with shipping banks and other capital providers to find comprehensive solutions for the industry.

Commenting on his Linkedin page, Lam added that Hong Kong as a base was chosen due to its friendly jurisdiction and its deep understanding of the international legal, tax and regulatory environment for shipping and shipowning. “The HK Ship Leasing Bill enacted in 2020 is among the legislations that will provide stability to SeaKapital,” he said.