This agreement marks the first collaboration between the two companies
Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company has announced that it has secured US$ 80mn in financing from BOCOM Financial Leasing Co., a large Chinese Bank for its newly delivered MR tankers, Betelgeuse and Bellatrix. This transaction represents the first financing that Al Seer Marine has secured for its shipping fleet from outside the UAE.
These two tankers have been built ready for alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol, ensuring compliance with the latest environmental regulations. With a deadweight of 49,757 MT each, both vessels are IMO II/III oil and chemical tankers designed to carry six fully segregated grades of cargo and have been fixed on five-year time charters (TC) to Reliance International DMCC.
“As the world shifts towards sustainable energy sources, we are well-positioned to capitalise on these trends and drive sustainable growth for our company and its stakeholders,” commented Guy Neivens, CEO, Al Seer Marine.
“This leasing agreement marks the beginning of what we anticipate being a strong and mutually beneficial cooperation,” remarked Wu Jiajun, Deputy CEO, BOCOM Financial Leasing.
