Sep 07 2011 |
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Lemissoler Maritime Company Receives 'The 2010 Lease Deal of the Year Award' from Marine Money
At the Marine Money Conference, held at the New York Stock Exchange, Lemissoler Maritime Company (one of Venture Capital Bank 's portfolio companies), was honored with the prestigious "Lease Deal Of The Year" award for 2010 by Marine Money Magazine, a leading international ship finance publication.
In November 2010, Lemissoler Maritime Company concluded a sale and leaseback transaction that involved the purchase of four dry bulk vessels and the subsequent leaseback of the vessels to Newlead Holdings Ltd, an international shipping company under a Shariah compliant eight year capital lease structure with a total transaction value of USD 85 million. The transaction consisted of three Capesize vessels; 'Brazil', 'Australia' and 'China' as well as one Panamax vessel; 'Grand Rodosi'.
The structure was awarded 'The Lease Deal of 2010' by leading international ship finance magazine - Marine Money, mainly due to its innovative features providing not just a Shariah compliant structure but also maintaining flexibility to both parties.
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Lemissoler Maritime Company WLL is a Bahrain based ship owning company that operates a fleet of 13 specialized commercial vessels and containerships under long term, fixed rate time charters with blue chip companies. The Company maintains a diverse portfolio of time charters - based on customer, market segment, geographic and maturity profiles.
For further inquiries, please contact:
May Marzooq
Corporate Communications & Marketing
Tel: +973 17 518 872
Fax: +973 17 518 880
Email: marzooq@vc-bank.com
© Press Release 2011
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