Subscribe to RSS feedGrand China Logistics to enter ship leasing
China Development Bank’s leasing arm has lent US$1.2bn to Shanghai-based Grand China Logistics, a transport outfit with increasingly large maritime ambitions, to buy and build new ships and start a leasing business of its own.
The deal was described in a company announcement as a ship leasing agreement.
Under typical leasing arrangements, a leasing company finances the building of ships, taking ownership and then leases them back under a prearranged long-term contract with a shipowner or...
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