Värde Agrees Sale and Leaseback for Landbridge VLCC

TankerIllustration. Source: Pixabay under CC0 Creative Commons license

US-based alternative investment firm Värde Partners has signed a sale and leaseback agreements for a very large crude carrier (VLCC) with Hong Kong’s Landbridge VLCC International.

The vessel in question is the 2016-built fuel-efficient tanker Landbridge Prosperity.

Landbridge, a subsidiary of Chinese industrial company Landbridge Group, will continue to operate the 308,285 dwt ship under a bareboat charter, before repurchasing it at the conclusion of the charter period.

“We are pleased to begin a financing relationship with Värde,” Vincent Lai, CEO of Landbridge, said, adding that the transaction is a part of the company’s scrubber retrofitting programme for the entire fleet.

The parties did not reveal the financial terms of the transaction, which was arranged by Pareto Securities.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >