Landbridge bareboats VLCC

May 10 2019

Alternative investment firm, Värde Partners, and Landbridge VLCC International, a Hong Kong-based subsidiary of Chinese industrial company Landbridge Group, have announced a VLCC sale and lease back transaction.

The deal was arranged by Pareto Securities.

The VLCC, ‘Landbridge Prosperity’, was built in 2016. Landbridge will continue to operate the vessel under a bareboat charter, before re-purchasing her at the conclusion of the charter period.

“We are pleased to begin a financing relationship with Värde, a firm with diverse expertise and a long history in shipping. We look forward to developing further areas of collaboration with Värde and Pareto,” said Vincent Lai, Landbridge CEO. “Our modern fleet of VLCCs are among the most fuel-efficient VLCCs on the water, and complement our port operations and activities in the oil and gas industry.

“The transaction is a part of our scrubber retrofitting programme for the whole fleet, which cements our pioneering position in response to the IMO 2020 convention,” he added.

“We are excited to partner with Landbridge and finance the growth in their shipping business. With over 20 years of experience in the shipping sector, Värde is a long standing investor in the industry. This transaction underscores our objective to become a leading provider of alternative finance to the sector by building long-term partnerships with reputable maritime companies and shipowners,” said Stephen Seymour, managing director at Värde Partners, responsible for the firm’s investments in the transport sector.

Landbridge was advised by HFW and Värde was advised by Allen & Overy.


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