Zakher Marine secures Chinese financing for newbuild liftboats

Zakher Marine secures Chinese financing for newbuild liftboats

UAE-based Zakher Marine International has completed a $125m financing deal with China Export and Credit Insurance Corporation (Sinosure), the official export credit agency of China, for two newbuild liftboats.

The two liftboats, QMS Sentinel and QMS Gladiator, were both built by CSIC-affiliated Wuhan Marine Machinery Plant and delivered to Zakher Marine last year.

“This transaction is a first of its kind in the region, paving the way for a long relationship with our financing partners locally and internationally,” said Ramzi Al-Sewaidi, head of strategic projects at Zakher Marine.

The financing is backed by Sinosure and HSBC acted as sole ECA Coordinator, and the transaction also included Mashreq Bank and Bank of Communications.

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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