Container Ship at Sea

WFW advises ICBC Financial Leasing Co. Ltd. on the structured refinancing of six ships with Lomar

10 September 2014

Watson, Farley & Williams (“WFW”), practicing in Hong Kong in association with Lau, Leong & Co., is pleased to announce that it has advised Chinese ICBC Financial Leasing Co. Ltd in relation to the US$160 million structured refinancing of four containers and two bulk carriers with the leading ship-owner, Lomar Corporation. The Lomar fleet currently stands at over 60 vessels, including more than 20 newbuildings.

The vessels’ primary registry is in the Marshall Islands, but they sail under the Singapore flag.

The WFW Hong Kong team was led by partner Madeline Leong who was assisted by associate Tonny Lee.

Partner Madeline Leong said: “This deal demonstrates ICBC Leasing’s continued appetite in growing its container and bulk carrier fleet and support for leading global shipowners such as Lomar. Our expertise in ship finance and experience in the maritime sector ensured that the transaction ran smoothly and was completed on time.”