WATCH OUT SHIP FINANCE, THERE IS A NEW TONNAGE PROVIDER IN TOWN

摘要

CSIC Leasing Co. ordered a new VLCC for its own account at Dalian shipyard which is part of the CSIC Group, the world's largest shipbuilder. Rather than extend a financial lease to a shipowner, CSIC entered into a time charter directly with an oil major and engaged a commercial manager and a coordinator to supervise the third-party technical manager. Simple enough and easily ignored, but something made us pursue it further.