November 8 The first bulk carrier in China of 10000+ tons (CCS Classification) built through lease financing "ICBC 1" steps into the world with the name given by Chengxi Shipyard Co., Ltd. The ship owner - ICBC Financial Leasing Co., Ltd ("ICBC Leasing") which is a subsidiary under ICBC, handed over the vessel to Huaneng Energy & Communications Holding Co., Ltd ("Huaneng E&C"), an associated company under China Huaneng Group, to lease and operate the ship.
Guests at the ceremony were: Vice- Governor of Jiangsu Province Mr. Zhao Kezhi, ICBC Chairman Mr. Jiang Jianqing, President of CSSC Mr. Tan Zuojun, President of Huaneng Group Mr. Cao Peixi, and Mr. Jiang Liqun, the Deputy Secretary of Party Committee of China Classification Society (CCS).
" 'ICBC 1' starts the chapter of a domestic commercial bank fully engaged in the building of a vessel, and owns the vessel eventually. ICBC Leasing vaults pass and ushers into the domain of financial leasing", said ICBC Chairman Mr. Jiang Jianqing during his speech at the ceremony.
As the largest commercial bank in the world now in terms of market capitalization, deposit base, profitability and brand value, ICBC attaches high importance in shipping finance service. ICBC is the first to adopt the concept of professional operation and set up a comprehensive financing product scheme.
When it comes to vessel financing, ICBC stands out as the No.1 bank in China. ICBC goes further by setting up ICBC Leasing, a wholly-owned subsidiary primarily engages in the financial leasing for aircrafts and vessels, and dedicated to offer the best, the most diversified financial services. As of today, more than 55 vessels have been arranged with leasing agreements under ICBC Leasing, the trailblazer of China's vessel leasing industry.
In June 2008, ICBC Leasing, Huaneng Group and CSSC entered into an agreement on vessel leasing project, the biggest contract in China as of today. According to this contract, ICBC Leasing will contribute the capital to build 12 bulk carriers for Huaneng Group, involving an amount totaled to RMB 5.3 billion. 8 of the bulk carriers of 53000 tons will be built by Chengxi Shipyard Co., Ltd under the supervision of CCS. "ICBC 1" is the first vessel completed from this batch of 8 bulk carriers.
The delivery of "ICBC 1" plays significant meaning in China's shipping economy. "ICBC 1" is the first vessel of "10000t-grade" built through financial leasing, the first vessel built and owned by a domestic commercial bank fully participated in the whole process. It is an important measure taken by a domestic financial institution to support the development of home country's shipping and shipbuilding industry through innovation, to boost a fleet of China vessels flying the "Five Star Flag".
It sets a new milestone in the collaborations between financial industry and shipbuilding, energy & communication industry.
According to the company spokesman from ICBC Leasing, "ICBC 1" is 190.00m long, 32.26m wide and 17.50m deep, with a minimum of 53000 tons of deadweight, high speed, equipped with all the advanced devices, strong adaptability in navigation routes. During the coming 10 years of leasing period, "ICBC 1" will sail between "Qinhuangdao Hainan" to carry power coals for the newly-built units in Huaneng Hainan Dongfang Power Plant.
