HOME>NEWS > Public news > Sinotrans & CSC (Tianjin) Offshore engineering Co. Ltd bareboat charter a WTIV

Sinotrans & CSC (Tianjin) Offshore engineering Co. Ltd bareboat charter a WTIV

Published:2017/10/13 10:04:31 Source:

Recently, Tianjin Port Area of China (Tianjin) Pilot Free Trade Zone (hereafter called Dongjiang) finished the first import leasing business of offshore platform installation in China. Sinotrans & CSC (Tianjin) Offshore engineering Co. Ltd (hereafter called Sinotrans & CSC) bareboat charter a WTIV called MV Chang De from a Singapore listed company called Teras Offshore Pte Ltd through above Dongjiang leasing platform. The import leasing business of MV Chang De was completed successfully in Dongjiang. During the import process, Dongjiang provided the service of consulting, import of machinery and equipment, customs clearance, maritime registration, foreign exchange registration, tax preparation and etc. MV Chang De provides offshore wind installation service for coastal wind farms in China. The completion of this business has an important role in introducing WTIV to China for domestic enterprises. It contributes to the successful completion of China's "13th Five-Year" offshore wind construction plan. It is of great significance for the development of offshore wind and the transformation of energy structure in China.

The import of MV Chang De has enhanced the strength of Sinotrans & CSC in the field of offshore wind installation and has made adequate preparations for the further development in this field. Because of high technical threshold and huge capital investment, key equipment like WTIV still needs to be imported from abroad and the development of offshore market has some limit, but the huge market demand is highly concerned by domestic and foreign capital. As a financial instruments, financial leasing can meet the needs of long project period, Large investment in prophase&construction and high cost of O&M. Financial leasing can help to solve the leasing problem of companies in offshore wind market.

The cooperation between Sinotrans & CSC Holdings Co. Ltd and Dongjiang has a long story. Shanghai Changhang Shipping Co. Ltd, which is engaged in specialised transportation, and Ezion Holdings Co. Ltd established a joint venture called Sinotrans & CSC (Tianjin) Offshore engineering Co. Ltd in June, 2016, aiming at developing offshore wind market in China and building the leading wind installation operator of China. Dongjiang is a leasing innovation demonstration area and the key area of Tianjin free trade zone. Dongjiang is trying its best to build a new financial industry whose core is leasing. Dongjiang will attract more offshore enterprises to Tianjin because of its dividend policy, highly open of the market, efficient&convenient service and the superior business environment.