MOL Concludes 1st LNG Carrier Lease with China's Bank of Communications Financial Leasing
MOL Concludes 1st LNG Carrier Lease with China's Bank of Communications Financial Leasing, Promoting Deeper Regional Strategies by Diversification of Financing.
TOKYO - Mitsui O.S.K. Lines, Ltd. has announced that it has entered into a lease agreement for three new LNG carriers under construction at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. with Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing) through a joint venture with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd., CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd., and CETS Investment Management (HK) Co., Limited. BOCOM Leasing is a subsidiary of Bank of Communications Co., Ltd. and the largest leasing company in China, and this marks MOL’s first contract with a Chinese leasing company.
In the "Regional Strategy" of the "BLUE ACTION 2035" management plan, MOL sets its sights on expanding business in emerging markets, including China. This lease agreement was achieved with a local financial institution in collaboration with a Chinese partner, in line with MOL's regional strategy. Through these initiatives, MOL will expand its funding sources and diversify its funding methods to strengthen its competitiveness, and it aims to realize a "regional strategy" while increasing its presence in China and other Asian markets.
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