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December 8, 2021updated 21 Dec 2021 5:12am

CDB Leasing signs $172m deal to buy nine Torm tankers

The deal is expected to be completed between Q4 2021 and Q1 2022.

Chinese leasing firm China Development Bank Financial Leasing (CDB Leasing) has agreed to purchase nine vessels from Danish shipping company Torm for $172m.

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Torm will sell nine petrochemical tankers, built from 2010 to 2012.

These ships will be leased back to Torm, with the lease period anticipated to be between eight and ten years, depending on the ships.

There will also be a buyout opportunity after three years.

The price for the deal will be paid in US dollars through CDB Leasing’s own funds and/or commercial bank loans.

Vendors involved in the transaction include Torm Singapore and Vesselco 10, both managed by Torm.

The consideration is projected to be completed between Q4 2021 and Q1 2022.

Details in connection with the delivery of the ships have not been revealed.

As of now, Torm owns and manages a fleet of roughly 80 product tankers.

Additionally, CDB Leasing agreed to acquire five medium-range (MR) tankers from Switzerland-based commodity trading company Trafigura in a deal valued at $140m.

This acquisition will be funded from the company’s own reserves, along with the possibility to be combined with commercial loans.

Delivery dates for the five unnamed vessels were not disclosed.

Through these purchases, CDB Leasing intends to expand its market share in the shipping sector, which is said to be in accordance with the company’s business development plan.

In October, Trafigura announced that it would invest in large scale low-carbon ammonia production plants.

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img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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