It is reported that Abu Dhabi National Leasing lease financed for 2 brand new dry bulk vessels amounting to AED 273 million to Stellar Shipping Company LLC.
As per report, the deal is one of the largest lease transactions in the region. It is uniquely structured by setting up 2 separate special purpose companies registered in Hong Kong as fully owned subsidiaries of ADNL. The vessels were built by Shinan Heavy Industries Company Limited in South Korea.
Mr Yousef Abdulla Yousef GM of ADNL said after attending the handing over ceremony of one of the two vessels in Gwangju of South Korea that "We are delighted to play a major role in facilitating Stellar Shipping's ambitious expansion plans as the company provides specialized and unique services and caters to the high demand in shipping industry especially with the rapid expansion of services sector in the GCC.
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Wednesday, December 16, 2009
ADNL lease finances 2 dry bulk vessels to Stellar Shipping
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