ICBC Leasing Signs USD 869 Million Tanker Deal with BP

China’s leasing company ICBC Financial Leasing has entered into an USD 869 million agreement with BP Shipping, the shipping arm of the oil major BP, to lease 18 tankers for a period of 10 years.

This is the first business deal between ICBC and BP Shipping, signed during a visit of Chinese President Xi Jinping to Great Britain.

ICBC Financial Leasing, a subsidiary  of the Industrial and Commercial Bank of China Ltd. (ICBC), currently manages a fleet of over 200 vessels within commodity, energy shipping and offshore industry.

The company’s shipping lease assets are valued at around USD 7 billion.

World Maritime News Staff

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